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HSBC to price performance securities linked to Financial Select Sector SPDR via UBS
By E. Janene Geiss
Philadelphia, Dec. 22 - HSBC USA Inc. plans to price 0% performance securities with contingent protection due Dec. 31, 2013 linked to the Financial Select Sector SPDR Fund, according to an FWP filing with the Securities and Exchange Commission.
UBS Financial Services Inc. and HSBC USA Inc. are the underwriters.
If the final index return is positive, the payout at maturity will be par of $10 plus 108% to 111% of the final index return. The exact participation rate will be determined at pricing.
Investors will receive par for losses up to 50% and will share in losses beyond 50%.
The notes are expected to price Dec. 23 and settle Dec. 31.
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