Nobody seems to be calling a wagon a wagon anymore. So SW is code for "wagon" for Peugeot.
It will compete in Europe with wagon versions of the Focus, Astra, Golf (AKA Jetta Sportwagen here) etc...
And it looks like the most conservative of them all. (Even the new Golf seems a bit more modern.)
This is what the "regular" hatchback model looks like . Sort of a "French Golf".