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Published on 8/2/2016 in the Prospect News Structured Products Daily.

New Issue: HSBC prices $1.15 million averaging notes linked to low volatility ETF

By Marisa Wong

Morgantown, W.Va., Aug. 2 – HSBC USA Inc. priced $1.15 million of 0% averaging notes due July 31, 2023 linked to the PowerShares S&P 500 Low Volatility Portfolio exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus the fund return, subject to a minimum return of 4%.

The fund’s final level will be the average of its closing levels on 28 quarterly observation dates.

HSBC Securities (USA) Inc. is the agent.

Issuer:HSBC USA Inc.
Issue:Averaging notes
Underlying ETF:PowerShares S&P 500 Low Volatility Portfolio ETF
Amount:$1,145,000
Maturity:July 31, 2023
Coupon:0%
Price:Par
Payout at maturity:Par plus fund return, subject to minimum return of 4%
Initial price:$42.86
Final level:Average of closing levels on 28 quarterly observation dates
Pricing date:July 26
Settlement date:July 29
Underwriter:HSBC Securities (USA) Inc.
Fees:3.75%
Cusip:40433UQV1

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