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HSBC plans buffered return optimization securities tied to S&P 500
By Jennifer Chiou
New York, April 10 - HSBC USA Inc. plans to price 0% buffered return optimization securities due May 23, 2013 linked to the S&P 500 index, according to an FWP with the Securities and Exchange Commission.
The payout at maturity will be par plus double any gain in the index, up to a maximum return of 10.5% to 11.5%.
Investors will receive par if the index falls by up to 5% and will be exposed to any losses beyond 5%.
The notes (Cusip: 40433M203) will price on April 17 and settle on April 20.
HSBC Securities (USA) Inc. will be the underwriter, with UBS Financial Services Inc. as the agent.
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