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HSBC plans uncapped AMPS linked to PowerShares S&P 500 Low Volatility
By Marisa Wong
Madison, Wis., Nov. 4 - HSBC USA Inc. plans to price 0% uncapped Accelerated Market Participation Securities due Nov. 27, 2015 linked to the PowerShares S&P 500 Low Volatility Portfolio exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.
If the ETF's return is greater than or equal to zero, the payout at maturity will be par plus 140% to 150% of the ETF's return. The exact upside participation rate will be set at pricing. If the ETF's return is less than zero, investors will have 1-to-1 exposure to the decline.
HSBC Securities (USA) Inc. is the agent.
The notes will price Nov. 22 and settle Nov. 27.
The Cusip number is 40432XNN7.
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