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HSBC plans leveraged buffered uncapped notes on PowerShares S&P ETF
By Jennifer Chiou
New York, Sept. 4 - HSBC USA Inc. plans to price 0% leveraged buffered uncapped market participation securities due Sept. 27, 2016 linked to the PowerShares S&P 500 Low Volatility Portfolio ETF, according to an FWP with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.15 to 1.25 times any fund gain. The exact participation rate will be set at pricing.
Investors will receive par if the fund falls by up to 10% and will lose 1% for every 1% decline beyond 10%.
The notes (Cusip: 40432XK75) are expected to price on Sept. 25 and settle on Sept. 30.
HSBC Securities (USA) Inc. is the agent.
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