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HSBC plans 50/150 performance notes tied to S&P 500 Low Volatility
By Susanna Moon
Chicago, Nov. 2 - HSBC USA Inc. plans to price buffered 0% 50/150 performance securities due Oct. 31, 2017 linked to the S&P 500 Low Volatility index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes provide 1.5 times uncapped exposure to any gains and 0.5 times exposure to any losses.
The payout at maturity will be par plus 1.5 times any index gain.
If the index falls, investors will lose 0.5% for every 1% decline.
The S&P 500 Low Volatility index is made up of the 100 least-volatile stocks over the previous year in the S&P 500 index.
HSBC Securities (USA) Inc. is the agent.
The notes will price on Nov. 27 and settle on Nov. 30.
The Cusip number is 40432X2J9.
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