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HSBC plans six-year averaging notes linked to S&P 500 Low Volatility
By Marisa Wong
Madison, Wis., Dec. 3 - HSBC USA Inc. plans to price 0% averaging notes due Dec. 24, 2018 linked to the S&P 500 Low Volatility index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus any basket gain. If the basket falls, the payout will be par.
The final basket level will be based on the average of the index closing levels on each of the quarterly observation dates over the life of the notes.
HSBC Securities (USA) Inc. is the agent.
The notes will price on Dec. 19 and settle on Dec. 24.
The Cusip number is 40432X4M0.
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