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HSBC to price leveraged buffered notes linked to low-volatility ETF
By Angela McDaniels
Tacoma, Wash., April 27 – HSBC USA Inc. plans to price 0% leveraged buffered uncapped market participation securities due May 29, 2020 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 participation rate will be set at pricing. Investors will receive par if the ETF falls by 15% or less and will lose 1% for every 1% that the ETF declines beyond 15%.
HSBC Securities (USA) Inc. is the underwriter.
The notes will price May 26 and settle May 29.
The Cusip number is 40433BR67.
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