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HSBC plans leveraged buffered notes linked to S&P 500 Low Volatility
By Tali Rackner
Norfolk, Va., April 12 – HSBC USA Inc. plans to price 0% leveraged buffered uncapped market participation securities due April 30, 2021 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 at least 1.15 times any fund gain. The exact participation rate will be set at pricing.
Investors will receive par if the fund falls by up to 20% and will lose 1% for every 1% decline beyond 20%.
HSBC Securities (USA) Inc. is the agent.
The notes will price on April 26 and settle on April 29.
The Cusip number is 40433UKN5.
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