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HSBC plans buffered uncapped notes on PowerShares S&P 500 Low Vol
By Jennifer Chiou
New York, Dec. 3 – HSBC USA Inc. plans to price 0% buffered uncapped market participation securities due Dec. 26, 2017 linked to the PowerShares S&P 500 Low Volatility Portfolio exchange-traded fund, according to an FWP with the Securities and Exchange Commission.
If the ETF’s return is positive, the payout at maturity will be par plus the ETF return.
If the ETF’s return is less than zero but greater than or equal to negative 10%, the payout will be par. Otherwise, investors will lose 1% for every 1% that the ETF declines beyond 10%.
The notes (Cusip: 40433BWA2) will price on Dec. 18 and settle on Dec. 23.
HSBC Securities (USA) Inc. is the agent.
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