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HSBC plans leveraged buffered uncapped market notes tied to PowerShares S&P 500 Low Volatility
By Susanna Moon
Chicago, July 22 – HSBC USA Inc. plans to price 0% leveraged buffered uncapped market participation securities due Aug. 31, 2020 linked to the PowerShares S&P 500 Low Volatility Portfolio ETF, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.2 times any fund gain.
Investors will receive par if the fund falls by up to 15% and will lose 1% for every 1% decline beyond 15%.
The exact deal terms will be set at pricing.
HSBC Securities (USA) Inc. is the underwriter.
The notes will price on Aug. 26 and settle on Aug. 31.
The Cusip number is 40433B4Z8.
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