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HSBC plans leveraged buffered uncapped market participation securities on low volatility ETF
By Wendy Van Sickle
Columbus, Ohio, Feb. 2 – HSBC USA Inc. plans to price 0% leveraged buffered uncapped market participation securities due March 1, 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 of $1,000 plus at least 1.2 times any ETF gain. The exact upside participation rate will be set at pricing.
Investors will receive par if the ETF falls by up to the 15% buffer and will lose 1% for every 1% decline beyond the buffer.
HSBC Securities (USA) Inc. is the agent.
The notes will price on Feb. 24 and settle on Feb. 29.
The Cusip number is 40433UGY6.
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