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HSBC plans leveraged buffered uncapped market participation securities linked to low volatility ETF
By Wendy Van Sickle
Columbus, Ohio, May 2 – HSBC USA Inc. plans to price 0% leveraged buffered uncapped market participation securities due May 28, 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 ETF gain with the upside participation rate to be set at pricing. Investors will receive par if the ETF declines by 15% or less and will be exposed to any declines beyond 15%.
HSBC Securities (USA) Inc. is the agent.
The notes (Cusip: 40433ULZ7) will price on May 25 and settle on May 31.
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