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HSBC to price buffered uncapped notes linked to low-volatility ETF
By Marisa Wong
Madison, Wis., May 27 – HSBC USA Inc. plans to price 0% buffered uncapped market participation securities due July 2, 2018 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 greater than zero, the payout at maturity will be par plus the ETF return. Investors will receive par if the ETF falls by 10% or less and will lose 1% for every 1% that the ETF declines beyond 10%.
HSBC Securities (USA) Inc. is the agent.
The notes will price on June 25 and settle on June 30.
The Cusip number is 40433BY69.
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