| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers H > Headlines for HSBC USA Inc. > News item |
HSBC plans airbag notes on PowerShares S&P 500 Low Volatility ETF
By Marisa Wong
Madison, Wis., June 7 - HSBC USA Inc. plans to price 0% airbag performance securities due June 29, 2018 linked to the PowerShares S&P 500 Low Volatility Portfolio exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 150% to 160% of any fund gain, with the exact participation rate to be set at pricing.
If the fund falls by up to 25%, the payout will be par.
Otherwise, investors will lose 1.33333% for every 1% decline beyond 25%.
HSBC Securities (USA) Inc. is the underwriter with UBS Financial Services Inc. as dealer.
The notes are expected to price on June 25 and settle on June 28.
The Cusip number is 40433X613.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.