Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers H > Headlines for HSBC USA Inc. > News item |
HSBC plans return optimization securities tied to fund basket via UBS
By Jennifer Chiou
New York, May 15 - HSBC USA Inc. plans to price 0% return optimization securities with contingent protection due May 15, 2012 linked to a global fund basket, according to an FWP filing with the Securities and Exchange Commission.
The basket includes 40% weights of Standard & Poor's Depositary Receipts and the iShares MSCI EAFE index fund as well as 10% weights of the iShares MSCI Brazil index fund and the iShares FTSE/Xinhua China 25 index fund.
UBS Financial Services Inc. and HSBC USA Inc. are the agents.
The payout at maturity will be par of $10 plus 1.5 times any basket gain, subject to a maximum return of 52.5% to 56.5%. The exact cap will be set at pricing.
Investors will receive par if the basket is above the 50% trigger level on the final valuation date but below the initial level. They will share in losses if the basket level breaches the 50% trigger level.
The notes will price on May 19 and settle on May 26.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.