HSBC plans autocallable optimization notes on Energy SPDR via UBS

By Susanna Moon

Chicago, May 21 - HSBC USA Inc. plans to price 0% autocallable optimization securities with contingent protection due June 1, 2011 based on the performance of the Energy Select Sector SPDR fund, according to an FWP filing with the Securities and Exchange Commission.

If the fund closes above its initial share price on any observation date, the notes will be called and investors will receive par of $10 plus an annualized return of 18.5% to 23.5%, with the exact percentage to be set at pricing.

The payout at maturity will be par if the final share price is at least 75% of the initial price. Otherwise, investors will receive par plus the share price return.

The notes are expected to price on May 25 and settle on May 28.

UBS Financial Services Inc. and HSBC USA Inc. are the agents.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.