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HSBC plans 50/150 performance notes linked to PowerShares S&P 500 Low Volatility fund
By Susanna Moon
Chicago, Sept. 4 - HSBC USA Inc. plans to price 0% 50/150 performance securities due Sept. 30, 2019 linked to the PowerShares S&P 500(r) Low Volatility Portfolio exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.
If the fund finishes above its initial level, the payout at maturity will be par plus 1.5% for every 1% gain.
Otherwise, investors will lose 0.5% for every 1% decline.
HSBC Securities (USA) Inc. is the agent.
The notes will price on Sept. 25 and settle on Sept. 30.
The Cusip number is 40432XL66.
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