HSBC USA to price buffered enhanced market participation notes linked to Financial Select SPDR

By Angela McDaniels

Tacoma, Wash., July 29 - HSBC USA Inc. plans to price 0% buffered enhanced market participation notes due Oct. 29, 2009 linked to the Financial Select Sector SPDR fund, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par plus triple any gain in the fund's share price, subject to a maximum return of 24% to 27%. The exact cap will be set at pricing.

Investors will receive par if the fund falls by 10% or less and will lose 1% for each 1% decline in the fund beyond 10%.

The notes are expected to price on Aug. 26 and settle on Aug. 29.

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

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