On the POD HD500, you can reset the global setup options which includes resetting the Setlist names and pedal calibration by powering 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.