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HSBC to price leveraged buffered uncapped notes linked to low vol ETF
By Angela McDaniels
Tacoma, Wash., June 7 – HSBC USA Inc. plans to price 0% leveraged Buffered Uncapped Market Participation Securities due June 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.
If the ETF return is greater than zero, the payout at maturity will be par plus at least 115% of the ETF return. The exact upside participation rate will be set at pricing. If the ETF return is less than or equal to zero but greater than or equal to negative 15%, the payout will be par. Otherwise, investors will lose 1% for every 1% that the ETF declines beyond 15%.
HSBC Securities (USA) Inc. is the underwriter.
The notes will price June 27.
The Cusip number is 40433UNQ5.
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