Have you tried it to answer your own question?
But if not ..yes it will have black bars top , bottom, left, right.
What I've done before is tart the sd clip up a bit by adding a frame created in the title maker, drop the clip on a 720 graphic background, offset the screen posiyion with the motion menu, then add basic 3d to adjust perspective. Text and graphics can balance the screen composition.
Or zoom it up so it is pillar boxed (black bars on left and right) and have an appropriate background behind it.