HSBC USA to price autocallable notes linked to JPMorgan, Goldman Sachs

By Angela McDaniels

Tacoma, Wash., June 10 - HSBC USA Inc. plans to price 0% autocallable notes due June 18, 2010 linked to the common stocks of JPMorgan Chase & Co. and Goldman Sachs Group, Inc., according to an FWP filing with the Securities and Exchange Commission.

The notes will be called automatically if the worst-performing stock closes at or above its initial price on any of eight quarterly auto redemption dates. Investors will receive par plus an annualized return of 24% to the redemption date.

If the final price of the worst-performing stock is less than its barrier price - 75% of its initial price - the payout at maturity will be a number of shares of the worst-performing stock equal to $1,000 divided by that stock's initial price. Otherwise, the payout will be par.

The notes are expected to price on June 11 and settle on June 18.

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

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