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HSBC plans return optimization securities linked to iShares MSCI EM
By Jennifer Chiou
New York, Nov. 2 - HSBC USA Inc. plans to price return optimization securities with contingent protection due Nov. 30, 2012 linked to the iShares MSCI Emerging Markets index fund, according to an FWP with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 1.5 times any index fund gain, subject to a maximum return of 27% to 38%. Investors will receive par if the fund finishes at or above 75% of the initial level and will be exposed to any decline if the fund beaches the trigger price.
The securities (Cusip: 40432R450) will price on Nov. 24 and settle on Nov. 30.
UBS Financial Services Inc. and HSBC USA Inc. are the underwriters.
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