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HSBC plans 50/150 performance notes tied to S&P 500 Low Volatility
By Toni Weeks
San Luis Obispo, Calif., April 2 - HSBC USA Inc. plans to price 0% 50/150 performance securities due Oct. 26, 2018 linked to the S&P 500 Low Volatility index, according to an FWP filing with the Securities and Exchange Commission.
If the index return is flat or positive, the payout maturity will be par plus 150% of the index return.
If the index return is negative, investors will be exposed to 50% of the decline in the index.
The notes (Cusip: 40432XDZ1) are expected to price April 23 and settle April 26.
HSBC Securities (USA) Inc. will be the agent.
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