HSBC plans to price absolute return barrier notes linked to Nasdaq

By E. Janene Geiss

Philadelphia, Aug. 8 - HSBC USA Inc. plans to price an issue of zero-coupon principal protection absolute return barrier notes due August 2008 linked to the Nasdaq 100 index, according to an FWP filing with the Securities and Exchange Commission.

The notes are expected to price Aug. 28 and settle Aug. 31.

If the index closes above the upper index barrier or below the lower index barrier during the life of the notes or finishes at the initial index level, the payout will be par of $10.

Otherwise, the payout will be par plus the absolute value of the index return.

The upper index barrier is 120% of the initial index level and the lower barrier is 80% of the initial level.

HSBC Securities (USA) Inc. is the underwriter.

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