HSBC USA to price absolute return barrier notes linked to MSCI EAFE

By Jennifer Chiou

New York, Sept. 28 - HSBC USA Inc. plans to price zero-coupon 100% principal protection absolute return barrier notes due April 30, 2009 linked to the MSCI EAFE index, according to an FWP filing with the Securities and Exchange Commission.

The notes are expected to price on Oct. 26 and settle on Oct. 31.

If the index never closes above the upper barrier or below the lower barrier during the life of the notes, the payout at maturity will be par of $10.00 plus the absolute value of the index return. Otherwise, the payout will be par.

The upper and lower barriers will be 22% to 25% above and below the initial index level, respectively.

UBS Financial Services Inc. and HSBC USA Inc. will be the underwriters.

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