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HSBC plans leveraged buffered uncapped notes tied to low volatility ETF
By Wendy Van Sickle
Columbus, Ohio, Oct. 11 – HSBC USA Inc. plans to price 0% leveraged Buffered Uncapped Market Participation Securities due Oct. 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.
If the ETF return is greater than zero, the payout at maturity will be par plus 105% of the return. If the ETF return is less than or equal to zero but greater than or equal to negative 10%, the payout will be par. Otherwise, investors will lose 1% for every 1% that the ETF declines beyond 10%.
HSBC Securities (USA) Inc. is the underwriter.
The notes will price Oct. 26.
The Cusip number is 40433UWK8.
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