HSBC plans leveraged buffered uncapped notes on S&P 500 Low Volatility

By Toni Weeks

San Luis Obispo, Calif., April 2 - HSBC USA Inc. plans to price 0% leveraged buffered uncapped market participation securities due April 28, 2016 linked to the S&P 500 Low Volatility index, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 1.1 to 1.2 times any index gain, with the exact participation rate to be set at pricing.

Investors will receive par if the index falls by up to 15% and will lose 1% for every 1% decline beyond 15%.

The notes (Cusip: 40432XDY4) are expected to price April 23 and settle April 26.

HSBC Securities (USA) Inc. is the agent.

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