New Issue: HSBC prices $43.6 million step-up notes linked to Euro Stoxx 50

By Angela McDaniels

Tacoma, Wash., Jan. 28 - HSBC USA Inc. priced $43.6 million of 0% market-linked step-up notes due Jan. 30, 2015 linked to the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

Bank of America Merrill Lynch is the agent.

If the final index level is greater than the step-up value -120.36% of the initial index level - the payout at maturity will be par of $10 plus the index return.

If the final index level is greater than or equal to the initial level but less than or equal to the step-up value, the payout will be par plus the step-up payment of 20.36%.

Investors will receive par if the index declines by 5% or less and will lose 1% for every 1% that it declines beyond 5%.

Issuer:	HSBC USA Inc.
Issue:	Market-linked step-up notes
Underlying index:	Euro Stoxx 50
Amount:	$43,601,590
Maturity:	Jan. 30, 2015
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If final index level is greater than step-up value, par plus index return; if final index level is greater than or equal to initial level but less than or equal to step-up value, par plus 20.36%; if index declines by 5% or less, par; 1% loss for every 1% that index declines beyond 5%
Initial index level:	2,722.96
Step-up value:	3,277.35, 120.36% of initial index level
Threshold value:	2,586.81, 95% of initial index level
Pricing date:	Jan. 24
Settlement date:	Feb. 4
Agent:	Bank of America Merrill Lynch
Fees:	2%
Cusip:	40433T471

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