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HSBC plans trigger performance securities on PowerShares low vol ETF
By Jennifer Chiou
New York, Nov. 5 – HSBC USA Inc. plans to price 0% trigger performance securities due Nov. 29, 2019 linked to the PowerShares S&P 500 Low Volatility Portfolio exchange-traded fund, according to an FWP with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 147% to 157% of any fund gain. The exact participation rate will be set at pricing.
If the fund finishes at or above the trigger level, 75% of the initial level, the payout will be par.
Otherwise, investors will be fully exposed to any losses.
The notes (Cusip: 40434F108) will price on Nov. 24 and settle on Nov. 28.
HSBC Securities (USA) Inc. is the underwriter. UBS Financial Services Inc. is the agent.
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