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