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Published on 5/2/2016 in the Prospect News Structured Products Daily.

HSBC plans three-year buffered uncapped market participation securities linked to low volatility ETF

By Wendy Van Sickle

Columbus, Ohio, May 2 – HSBC USA Inc. plans to price 0% buffered uncapped market participation securities due May 31, 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 ETF gain. Investors will receive par if the ETF declines by up to the buffer of at least 10% and will be exposed to any declines beyond the buffer. The exact buffer will be set at pricing.

HSBC Securities (USA) Inc. is the agent.

The notes (Cusip: 40433ULV6) will price on May 25 and settle on May 31.


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