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HSBC plans buffered uncapped market participation notes on low volatility ETF
By Sarah Lizee
Olympia, Wash., April 9 – HSBC USA Inc. plans to price 0% buffered uncapped market participation securities due May 3, 2022 linked to the Invesco 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 any ETF gain. Investors will receive par if the ETF declines by up to the buffer of at least 15% and will be exposed to any declines beyond the buffer. The exact buffer will be set at pricing.
HSBC Securities (USA) Inc. is the agent.
The notes (Cusip: 40435ULB8) will price on April 30.
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