On the POD HD500, you can reset the global setup options which includes resetting the Setlist names and pedal calibration by:
1. Disconnect the USB cable connection between HD500 and host computer.
2. Power off the POD HD500.
3. Power on the POD HD500 while holding the LEFT ARROW (<) button while plugging in the power supply to the POD.
***NOTE: Please also make sure to re-calibrate the onboard expression pedal of the HD500 after performing the Global Settings reset.
Instructions: How to calibrate the POD HD500 Expression Pedal.