HSBC USA to price performance tracking notes linked to climate change index

By Angela McDaniels

Tacoma, Wash., Jan. 15 - HSBC USA Inc. plans to price 0% performance tracking securities due Feb. 28, 2013 linked to the HSBC Investable Climate Change Total Return index, according to an FWP filing with the Securities and Exchange Commission.

The index tracks the performance of up to 50 liquid stocks with substantial revenue derived from activities related to climate change, including solar, wind, geothermal/hydro, gas, biofuels, nuclear, integrated power, diversified renewables, agrochemicals, carbon trading, energy-efficient solutions, building insulation, fuel cells, power storage, water, waste and pollution control, fuel efficiency autos, including companies involved in the mining or processing of platinum, and investment companies whose investment strategy states an emphasis on one of the other 18 sectors.

The notes will be exchangeable on Feb. 27, 2009, Feb. 26, 2010, Feb. 28, 2011 and Feb. 29, 2012.

For each $10.00 security, the payout at maturity or upon exchange will be $9.875 plus the index return and minus the annual fee, which accrues daily at a rate equal to 1.4% per year.

The notes will price on Feb. 26 and settle on Feb. 29.

UBS Financial Services Inc. will be the underwriter.

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