HSBC plans equity buffer notes linked to Dow Jones Industrial Average

By Jennifer Chiou

New York, Nov. 3 - HSBC USA Inc. plans to price 0% equity buffer notes due May 28, 2010 linked to the Dow Jones Industrial Average, according to an FWP filing with the Securities and Exchange Commission.

If the final level is at least the initial price, the payout at maturity will be par plus 200% of any increase, capped at 20% to 24%.

If the final level declines by up to 20%, the payout will be par. Investors will lose 1% for each 1% that the index declines past 20%.

The notes are expected to price on Nov. 24 and settle on Nov. 29.

HSBC Securities (USA) Inc. will be the agent.

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