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HSBC plans performance notes due 2018 linked to S&P 500 Low Volatility
By Angela McDaniels
Tacoma, Wash., May 1 - HSBC USA Inc. plans to price 0% performance notes due Nov. 28, 2018 linked to the S&P 500 Low Volatility index, according to an FWP filing with the Securities and Exchange Commission.
If the index return is greater than zero, the payout at maturity will be par plus the index return. If the index return is less than or equal to zero, the payout will be par.
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. The index is rebalanced quarterly.
The notes (Cusip: 4042K1K77) will price May 23 and settle May 29.
HSBC Securities (USA) Inc. is the underwriter.
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