HSBC Bank USA plans CD linked to global index basket via JVB

By Jennifer Chiou

New York, May 9 - HSBC Bank USA NA, New York Branch plans to issue a global equity-linked basket certificate of deposit due May 25, 2012 linked to the S&P 500, Nikkei 225 and Dow Jones Euro Stoxx 50 indexes via JVB Financial Group LLC, according to a term sheet.

The indexes will be equally weighted.

At maturity, the CDs will pay par plus the basket return with a minimum return of 10%.

Holders have the option to put the CDs back in whole on May 30, 2008, May 29, 2009, May 28, 2010 and May 27, 2011.

The CDs will price on May 21 and settle on May 25.

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