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HSBC to price return optimization securities linked to three ETFs
By Jennifer Chiou
New York, Nov. 19 - HSBC USA Inc. plans to price 0% return optimization securities with contingent protection due March 31, 2015 linked to a basket of exchange-traded funds, according to an FWP with the Securities and Exchange Commission.
The basket includes the iShares MSCI Emerging Markets index fund with a 40% weight, the iShares MSCI EAFE index fund with a 30% weight and the SPDR Trust Series 1 with a 30% weight.
The payout at maturity will be par of $10 plus 2.5 times any basket gain, subject to a maximum return of 54% to 62% that will be set at pricing.
If the basket return is between zero and negative 30%, the payout will be par.
If the basket return is less than negative 30%, the payout will be par plus the basket return.
The securities (Cusip: 40432R419) are expected to price on Dec. 28 and settle on Dec. 31.
UBS Financial Services Inc. and HSBC USA Inc. are the agents.
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