HSBC to price leveraged buffered uncapped notes on 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. 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.

If the ETF return is greater than zero, the payout at maturity will be par plus at least 120% of the return. If the ETF return is less than or equal to zero but greater than or equal to negative 15%, the payout will be par. Otherwise, investors will lose 1% for every 1% that the ETF declines beyond 15%.

HSBC Securities (USA) Inc. is the underwriter.

The notes will price Oct. 26.

The Cusip number is 40433UXG6.

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