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HSBC plans leveraged performance notes on PowerShares S&P Low Vol
By Jennifer Chiou
New York, Nov. 5 - HSBC USA Inc. plans to price 0% leveraged performance securities due Nov. 29, 2019 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 140% to 150% of any fund gain, with the exact participation rate to be set at pricing.
If the fund falls, investors will share in 50% of the decline.
The notes (Cusip: 40432XNR8) are expected to price on Nov. 26 and settle on Nov. 29.
HSBC Securities (USA) Inc. is the underwriter.
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