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HSBC plans buffered uncapped market notes on PowerShares S&P 500 ETF
By Tali Rackner
Norfolk, Va., April 8 – HSBC USA Inc. plans to price 0% buffered uncapped market participation securities due April 30, 2019 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 up to the buffer, which is expected to be at least negative 15%, and will lose 1% for every 1% decline beyond the buffer.
HSBC Securities (USA) Inc. is the agent.
The notes will price on April 26 and settle on April 29.
The Cusip number is 40433UKJ4.
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