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HSBC USA to price bearish return optimization securities due 2010 linked to Russell 2000
By E. Janene Geiss
Philadelphia, July 1 - HSBC USA Inc. plans to price 0% bearish return optimization securities due Jan. 15, 2010 linked to the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 multiplied by the lesser of three times any index decline or a maximum gain of 15% to 19%. The exact maximum gain will be set at pricing. Investors will lose 1% for each 1% that the index increases.
The securities are expected to price July 10 and settle July 15.
UBS Financial Services Inc. and HSBC USA Inc. are the underwriters.
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