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HSBC plans leveraged buffered uncapped notes on PowerShares ETF
By Jennifer Chiou
New York, Dec. 3 – HSBC USA Inc. plans to price 0% leveraged buffered uncapped market participation securities due Dec. 23, 2019 linked to the PowerShares S&P 500 Low Volatility Portfolio exchange-traded fund, according to an FWP with the Securities and Exchange Commission.
If the ETF’s return is positive, the payout at maturity will be par plus at least 105% 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%.
The notes (Cusip: 40433BVP0) will price on Dec. 18 and settle on Dec. 23.
HSBC Securities (USA) Inc. is the agent.
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