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HSBC plans leveraged buffered uncapped notes on low volatility ETF
By Marisa Wong
Morgantown, W.Va., Jan. 14 – HSBC USA Inc. plans to price 0% leveraged buffered uncapped market participation securities due Jan. 29, 2021 linked to the PowerShares S&P 500 Low Volatility Portfolio exchange-traded fund, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus at least 1.2 times any fund gain. The exact upside participation rate will be set at pricing.
Investors will receive par if the fund falls by 15% or less and will lose 1% for every 1% decline beyond 15%.
HSBC Securities (USA) Inc. is the underwriter.
The notes will price on Jan. 26 and settle on Jan. 29.
The Cusip number is 40433UFT8.
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