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HSBC plans buffered notes linked to PowerShares S&P 500 Low Volatility
By Susanna Moon
Chicago, July 22 – HSBC USA Inc. plans to price 0% buffered uncapped market participation securities due Aug. 31, 2018 linked to the PowerShares S&P 500 Low Volatility Portfolio ETF, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus any fund gain.
Investors will receive par if the fund falls by up to 12% and will lose 1% for every 1% decline beyond 12%.
The exact deal terms will be set at pricing.
HSBC Securities (USA) Inc. is the underwriter.
The notes will price on Aug. 26 and settle on Aug. 31.
The Cusip number is 40433B4V7.
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