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HSBC plans leveraged buffered uncapped notes on low volatility ETF
By Toni Weeks
San Luis Obispo, Calif., Feb. 27 – HSBC USA Inc. plans to price 0% leveraged buffered uncapped market participation securities due March 26, 2020 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 plus at least 125% of any fund gain. The exact upside participation rate will be set at pricing.
Investors will receive par if the fund falls by up to 15% and will lose 1% for every 1% decline beyond 15%.
HSBC Securities (USA) Inc. is the agent.
The notes are expected to price March 23 and settle March 26.
The Cusip number is 40433BE20.
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