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HSBC plans trigger performance notes on PowerShares S&P Low Volatility
By Marisa Wong
Madison, Wis., Dec. 8 – HSBC USA Inc. plans to price 0% trigger performance securities due Dec. 31, 2019 linked to the PowerShares S&P 500 Low Volatility Portfolio exchange-traded fund, according to an FWP with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 138% to 148% of any fund gain. The exact participation rate will be set at pricing.
If the fund finishes at or above the trigger level, 75% of the initial level, the payout will be par.
Otherwise, investors will be fully exposed to any losses.
HSBC Securities (USA) Inc. is the underwriter. UBS Financial Services Inc. is the agent.
The notes will price on Dec. 26 and settle on Dec. 31.
The Cusip number is 40434F785.
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