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HSBC to price return optimization securities linked to S&P 500 index
By Angela McDaniels
Tacoma, Wash., May 5 - HSBC USA Inc. plans to price 0% return optimization securities with partial protection due Nov. 30, 2011 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus double any index gain, subject to a maximum return of 13% to 15.5% that will be set at pricing. Investors will receive par if the index declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.
The notes will price May 25 and settle May 28.
UBS Financial Services Inc. is the agent.
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