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HSBC plans leveraged buffered uncapped notes linked to PowerShares S&P 500 Low Volatility
By Toni Weeks
San Luis Obispo, Calif., Dec. 4 - HSBC USA Inc. plans to price 0% leveraged buffered uncapped market participation securities due Dec. 27, 2018 linked to the PowerShares S&P 500 Low Volatility Portfolio exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.
If the ETF's return is greater than or equal to zero, the payout at maturity will be par plus 115% to 125% of the ETF's return. The exact upside participation rate will be set at pricing. If the ETF's return is less than zero but greater than or equal to negative 20%, the payout will be par. Otherwise, investors will lose 1% for every 1% that the ETF declines beyond 20%.
HSBC Securities (USA) Inc. is the agent.
The notes will price Dec. 23 and settle Dec. 27.
The Cusip number is 40432XPC9.
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