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HSBC to price return optimization notes linked to iShares MSCI EM
By Angela McDaniels
Tacoma, Wash., Aug. 31 - HSBC USA Inc. plans to price 0% return optimization securities with contingent protection due Sept. 28, 2012 linked to the iShares MSCI Emerging Markets index fund, according to an FWP filing with the Securities and Exchange Commission.
If the fund return is greater than zero, the payout at maturity will be par of $10 plus 1.5 times the fund return, subject to a maximum return of 34% to 40% that will be set at pricing.
If the fund return is between zero and negative 30%, the payout will be par.
If the fund return is less than negative 30%, investors will be fully exposed to the decline.
The notes (Cusip: 40432R625) are expected to price Sept. 27 and settle Sept. 30.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.
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