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HSBC plans peak return participation notes on S&P 500 Low Volatility
By Susanna Moon
Chicago, April 5 - HSBC USA Inc. plans to price 0% peak return participation notes due April 26, 2019 linked to the S&P 500 Low Volatility index, according to an FWP with the Securities and Exchange Commission.
The highest reference return will be measured on each of April 23, 2013, April 23, 2014, April 23, 2015, April 26, 2016, April 24, 2017, April 23, 2018 and April 23, 2019.
If the highest reference return is positive, the payout at maturity will be par plus the greater of the highest reference return plus 70% and the minimum return of 7%.
Otherwise, investors will receive the minimum return of 7%.
HSBC Securities (USA) Inc. is the agent.
The notes will price on April 23 and settle on April 26.
The Cusip number is 4042K1F65.
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