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HSBC to price buffered return optimization notes tied to Russell 2000
By Angela McDaniels
Tacoma, Wash., April 1 - HSBC USA Inc. plans to price 0% buffered return optimization securities due April 30, 2013 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 1.25 times any increase in the index, subject to a maximum return of 22.5% to 26.5% that will be set at pricing. Investors will receive par if the index falls by 15% or less and will lose 1% for every 1% that it declines beyond 15%.
The notes (Cusip: 40433C882) are expected to price April 26 and settle April 29.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.
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