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ELEMENTS are exchange-traded notes designed to track the return of a specific underlying market measure. After their initial offering, ELEMENTS can be bought and sold through a broker or financial advisor on a U.S. securities exchange.
Market Data As of market close  N.A.
Closing Price: $5.93
Net Change: $0.03
% Change: 0.51%
52-week High/Low: $6.43/$5.22
Volume: 801
20 Day Volume Average: 7,471
Units Outstanding: 4,939,000
Market Capitalization*: $29,288,270
*Market Capitalization = Closing Price x Units Outstanding

Market Data
Source: Bloomberg. The "closing price" is the closing market trading price.

Indicative Values
Closing Indicative Value*:   $5.95
Daily Repurchase Value*:   $5.95
*Source: Bloomberg. The "Daily repurchase value" and "closing indicative value" are historical, do not guarantee future performance, and are shown for illustrative purposes only. The repurchase value will apply to any repurchase by the issuer.
Returns As of market close N.A.
Timeframe1 mo3 mo6 moYTD1 yr3 yr5 yrSince Note Inception
S&P Commodity Trends Indicator - Total Return2.51%3.33%-0.47%3.63%2.03%-13.52%-8.11%-37.82%
CTI ELEMENTS ETNs (Indicative Value)2.59%3.12%-0.83%3.48%1.36%-14.16%-8.79%-40.50%
CTI ELEMENTS ETNs (Market Price)2.08%2.81%-1.17%2.95%0.61%-14.32%-8.95%-40.70%
3yr and 5yr represent annualized returns. The performance quoted represents historical performance and is not an indication that the return on the ELEMENTS or the underlying index is more or less likely to increase or decrease at any time during the term of the ELEMENTS. There can be no assurance that the future performance of the ELEMENTS or the index will result in holders of the ELEMENTS receiving a positive return on their investment.
Profile
Issuer: HSBC USA Inc.
Primary Exchange: NYSE Arca
Ticker: LSC
Intraday Indicative Value Ticker: LSCIV
Bloomberg Index Ticker: SPTICTR
CUSIP: 4042EP 602
Inception Date: June 10, 2008
Maturity Date: June 16, 2023
Initial Index Level: 2089.69
Denomination: $10.00
Short Sales* : Yes on an up or down tick
Yearly Fee : 0.75%
*With short sales, an investor risks paying more for a security than the amount one received from its sale.
Components

Please find below the April 2014 long/short positioning of the Index sectors. Generally, each sector is set long, short, or flat on a monthly basis. For softs, each component is set long or short on an individual basis, rather than a sector basis. Please see the prospectus for additional information on the long/short positioning of the Index sectors.

SectorCurrent PositionWeight*
EnergyLong37.50%
GrainsLong23.00%
Industrial MetalsShort10.00%
Precious MetalsShort10.50%
LivestockLong 10.00%
Softs (by Commodity)  
CocoaLong 2.00%
CoffeeLong 3.00%
CottonLong 2.00%
SugarLong 2.00%

* This represents the sector (or in the case of softs, component) weighting as of the April 2014 rebalancing. Weights will fluctuate between monthly rebalancing.

As of  Jan-2008


Source: Standard & Poor's

Returns
Index Returns indicates percentage change in the index level expressed as a percentage from the beginning of the relevant period to the end of the relevant period. Index Returns are for illustrative purposes only and do not represent actual ELEMENTS performance. Index Returns do not reflect any fees which would reduce an investor's actual return. Indices are not managed and one cannot invest directly in an index.

ELEMENTS Returns indicate the change in last reported prices at or shortly after 4:00 pm Eastern time expressed as a percentage from the beginning of the relevant period to the end of the relevant period and do not represent the returns an investor would receive if an investor traded at other times. Market Returns do not account for brokerage commissions which will reduce actual returns.

ELEMENTS Indicative Values Returns indicate the change in last reported indicative values at or shortly after 4:00 pm Eastern time expressed as a percentage from the beginning of the relevant period to the end of the relevant period.

Daily Repurchase Value
Daily Repurchase Value will equal the principal amount of ELEMENTS times the Index Factor on the relevant valuation date times the Fee Factor on the relevant valuation date.

Fee Factor
The fee factor is equal to one minus the product of (i) the annual investor fee and (ii) the number of days elapsed from the inception date to and including the applicable valuation date divided by 365. The annual investor fee is equal to 0.75%.

Index Factor
The index factor on any given day, other than the final valuation date, will be equal to the closing level of the index on the day divided by the initial index level. The index factor on the final valuation date will equal the average of the closing levels of the index for the five trading days prior to and including the final valuation date divided by the initial index level. The initial index level is the closing level of the index on the inception date.

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Merrill Lynch, Pierce, Fenner & Smith Incorporated is a registered broker-dealer and a wholly-owned subsidiary of Bank of America Corporation.
Securities Products: Are Not FDIC Insured Are Not Bank Guaranteed May Lose Value

In considering ELEMENTS as an investment, an investor should review the ELEMENTS prospectus for the particular offering and discuss the security with legal, tax and financial advisors before taking any action. In the event of any inconsistency between this website and the prospectus for a particular offering of ELEMENTS, you should rely on the prospectus in evaluating that offering. Please review Legal Information and Privacy Statement for additional important legal information and the terms and conditions governing use of this website.