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HSBC plans six-year averaging notes linked to S&P 500 Low Volatility
By Toni Weeks
San Diego, Dec. 31 - HSBC USA Inc. plans to price 0% averaging notes due Jan. 29, 2019 linked to the S&P 500 Low Volatility index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus any index gain. If the index falls, the payout will be par.
The final index level will be the average of the index closing levels on each of the quarterly observation dates over the life of the notes.
HSBC Securities (USA) Inc. is the agent.
The notes will price on Jan. 24 and settle on Jan. 29.
The Cusip number is 40432X5M9.
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