HSBC plans 0% enhanced market participation notes linked to PHLX Gold & Silver Sector

By Jennifer Chiou

New York, Nov. 7 - HSBC USA Inc. plans to price 0% enhanced market participation notes due Dec. 4, 2008 linked to the PHLX Gold & Silver Sector index, according to an FWP filing with the Securities and Exchange Commission.

If the final index level is at least the initial level, the payout will be par plus triple any gain on the index, capped at a payout of between 124.5% and 124.5% of par. The exact cap will be set at pricing.

If the final index level is below the initial level, the payout will be par times the index performance.

The notes will price on Nov. 27 and settle on Nov. 30.

HSBC Securities (USA) Inc. is the underwriter.

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