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HSBC plans return optimization securities tied to S&P 500 via UBS
By Marisa Wong
Madison, Wis., Sept. 15 - HSBC USA Inc. plans to price 0% return optimization securities with partial protection due March 30, 2012 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus double any index gain, subject to a maximum return of 14% to 17% that will be set at pricing.
Investors will receive par if the index falls by up to 10% and will lose 1% for every 1% decline beyond 10%.
The notes (Cusip: 40432R583) are expected to price Sept. 27 and settle Sept. 30.
UBS Financial Services Inc. is the agent.
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