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HSBC plans buffered uncapped market participation notes tied to PowerShares S&P 500 Low Volatility
By Toni Weeks
San Luis Obispo, Calif., April 1 – HSBC USA Inc. plans to price 0% buffered uncapped market participation securities due April 30, 2018 linked to the PowerShares S&P Low Volatility Portfolio exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus any fund gain. Investors will receive par if the fund falls by up to the buffer amount and will lose 1% for every 1% decline beyond the buffer. The buffer amount will be at least 10% and will be set at pricing.
HSBC Securities (USA) Inc. is the agent.
The notes will price April 27 and settle April 30.
The Cusip number is 40433BL30.
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