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HSBC to price performance securities linked to index basket via UBS
By Susanna Moon
Chicago, Dec. 31 - HSBC USA Inc. plans to price 0% performance securities with partial protection due Jan. 31, 2012 linked to a basket of indexes, according to an FWP filing with the Securities and Exchange Commission.
The basket consists of the Dow Jones Euro Stoxx 50 with a 35% weight, the FTSE 100 with a 25% weight, the Nikkei 225 with a 25% weight, the Swiss Market with a 5% weight, the S&P ASX 200 with a 5% weight and the MSCI Emerging Markets with a 5% weight.
Payout at maturity will be par of $10 plus any basket gain times a participation rate of between 100% and 110%, with the exact rate to be set at pricing.
If the final basket return is between 0% and negative 20%, the payout will be par. Otherwise, investors will lose 1% for each 1% that the return is less than negative 20%.
The notes will price on Jan. 25 and settle on Jan. 31.
UBS Financial Services, Inc. will be the underwriter.
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