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HSBC plans leveraged buffered uncapped notes on S&P 500 Low Volatility
By Angela McDaniels
Tacoma, Wash., May 1 - HSBC USA Inc. plans to price 0% leveraged buffered uncapped market participation securities due May 31, 2016 linked to the S&P 500 Low Volatility index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 1.1 times to 1.2 times any index gain. The exact participation rate will be set at pricing. Investors will receive par if the index falls by up to 15% and will lose 1% for every 1% that it declines beyond 15%.
HSBC Securities (USA) Inc. is the agent.
The notes will price May 23 and settle May 29.
The Cusip number is 40432XEX5.
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