HSBC to price buffered uncapped notes tied to low volatility ETF

By Marisa Wong

Morgantown, W.Va., Dec. 21 – HSBC USA Inc. plans to price 0% buffered uncapped market participation securities due Dec. 31, 2018 linked to the PowerShares S&P 500 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 11% or less and will lose 1% for every 1% decline beyond 11%. The exact buffer will be set at pricing and will be at least 11%.

HSBC Securities (USA) Inc. is the agent.

The notes will price on Dec. 23 and settle on Dec. 29.

The Cusip number is 40433UDZ6.

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