HSBC plans two-year market-linked step-up notes on DJ Global Titans

By Jennifer Chiou

New York, Jan. 4 - HSBC USA Inc. plans to price market-linked step-up notes due January 2015 linked to the Dow Jones Global Titans 50 index, according to an FWP with the Securities and Exchange Commission.

If the index finishes at or above the step-up value - 113% to 119% of the initial level - the payout at maturity will be par of $10.00 plus any index gain.

If the index finishes below the step-up level but at or above the initial level, the payout will be par plus the step-up payment of $1.30 to $1.90 per note.

Investors will be fully exposed to any losses.

The notes will price and settle in January.

Bank of America Merrill Lynch is the agent.

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