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HSBC plans leverage buffered notes tied to S&P 500 Low Volatility fund
By Susanna Moon
Chicago, July 5 – HSBC USA Inc. plans to price 0% leveraged buffered uncapped market participation securities due July 31, 2019 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 1.05 times any index gain, with the exact upside participation rate to be set at pricing.
Investors will receive par if the index falls by up to 10% and will lose 1% for every 1% decline beyond the 10% buffer.
HSBC Securities (USA) Inc. is the agent.
The notes will price on July 26 and settle on July 29.
The Cusip number is 40433UQU3.
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