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HSBC plans buffered return optimization securities linked to S&P 500
By Susanna Moon
Chicago, July 3 - HSBC USA Inc. plans to price 0% buffered return optimization securities due July 31, 2014 linked to the S&P 500 index, according to an FWP with the Securities and Exchange Commission.
The payout at maturity will be par plus double any gain in the index, up to a maximum return of 21.25% to 26.25%. The exact cap will be set at pricing.
Investors will receive par if the index falls by up to 10% and will be exposed to any losses beyond 10%.
HSBC Securities (USA) Inc. will be the underwriter, with UBS Financial Services Inc. as the agent.
The notes will price on July 26 and settle on July 31.
The Cusip number is 40433M443.
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