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HSBC plans buffered return optimization notes tied to S&P MidCap 400
By Angela McDaniels
Tacoma, Wash., April 1 - HSBC USA Inc. plans to price 0% buffered return optimization securities due April 30, 2013 linked to the S&P MidCap 400 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 1.25 times any increase in the index, subject to a maximum return of 19% to 23% that will be set at pricing. Investors will receive par if the index falls by 10% or less and will lose 1% for every 1% that it declines beyond 10%.
The notes (Cusip: 40433C809) are expected to price April 26 and settle April 29.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.
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