HSBC plans to price equity buffer notes linked to Dow Jones Industrial Average

By E. Janene Geiss

Philadelphia, Dec. 31 - HSBC USA Inc. plans to price 0% equity buffer notes due July 28, 2010 linked to the Dow Jones Industrial Average, according to a FWP filing with the Securities and Exchange Commission.

Payout at maturity will be par plus double any gain on the index, up to a maximum return of 16% to 22%. The exact cap will be set at pricing.

The payout will be par if the basket declines by 20% or less. Investors will lose 1% for every 1% the basket declines beyond 20%.

The notes are expected to price Jan. 27 and settle Jan. 30.

HSBC Securities (USA) Inc. is the agent.

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