HSBC plans leveraged buffered uncapped notes linked to PowerShares S&P 500 Low Volatility

By Angela McDaniels

Tacoma, Wash., April 3 - HSBC USA Inc. plans to price 0% leveraged buffered uncapped market participation securities due April 25, 2019 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 return is positive, the payout at maturity will be par plus at least 110% of the ETF return. The exact upside participation rate will be set at pricing. Investors will receive par if the ETF declines by 20% or less and will lose 1% for every 1% that it declines beyond 20%.

HSBC Securities (USA) Inc. is the agent.

The notes will price April 22 and settle April 25.

The Cusip number is 40432XXZ9.

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