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HSBC plans 50/150 performance notes tied to S&P 500 Low Volatility
By Toni Weeks
San Diego, July 31 - HSBC USA Inc. plans to price 0% 50/150 performance securities due Aug 31, 2017 linked to the S&P 500 Low Volatility index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index return is flat or positive, the payout maturity will be par plus 150% of the index return.
If the index return is negative, investors will be exposed to 50% of the decline in the index.
The notes (Cusip: 4042K12N2) are expected to price Aug. 28 and settle Aug. 31.
HSBC Securities (USA) Inc. will be the agent.
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