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HSBC plans leveraged buffered uncapped notes on PowerShares S&P ETF
By Marisa Wong
Madison, Wis., Nov. 4 - HSBC USA Inc. plans to price 0% leveraged buffered uncapped market participation securities due Nov. 27, 2018 linked to the PowerShares S&P 500 Low Volatility Portfolio exchange-traded fund, according to an FWP with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.15 to 1.25 times any fund gain. The exact participation rate will be set at pricing.
Investors will receive par if the fund falls by up to 20% and will lose 1% for every 1% decline beyond 20%.
HSBC Securities (USA) Inc. is the agent.
The notes will price Nov. 22 and settle Nov. 27.
The Cusip number is 40432XNP2.
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