HSBC to price equity buffer notes linked to index basket

By Jennifer Chiou

New York, Nov. 3 - HSBC USA Inc. plans to price 0% equity buffer notes due Dec. 22, 2009 linked to an index basket, according to an FWP with the Securities and Exchange Commission.

The basket consists of equal weights of the S&P 500 index, Russell 2000 index and the iShares MSCI EAFE index fund.

If the final basket level is at least the initial level, the payout at maturity will be par plus any basket gain, capped at a maximum payout equal to 117% to 120% of par.

If the basket level declines by up to 15%, the payout will be par. Investors will lose 1% for each 1% that the baskets decline past 15%.

The notes will price on Nov. 24 and settle on Nov. 28.

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

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