HSBC plans to price performance securities with contingent protection linked to S&P via UBS

By E. Janene Geiss

Philadelphia, Nov. 17 - HSBC USA Inc. plans to price 0% performance securities with contingent protection due Nov. 29, 2013 linked to the S&P 500 index via UBS Financial Services Inc., according to an FWP filing with the Securities and Exchange Commission.

If the final index level is at least the initial level, the payout will be par plus 107% to 113% of any index gain. The exact participation rate will be set at pricing.

If the final index return is negative and the index closes below its trigger level - 50% of its initial level - on any day during the life of the notes, the payout at maturity will be par times the index performance.

If the final index return is negative and the index stays at or above the trigger level, the payout will be par.

The notes are expected to price Nov. 24 and settle Nov. 28.

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

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