HSBC to price 0% return optimization securities linked to S&P 500 via UBS

By Susanna Moon

Chicago, Aug. 27 - HSBC USA Inc. plans to price 0% return optimization securities due March 31, 2010 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

At maturity, investors will receive par of $10 plus five times any index gain, up to a maximum return of 23% to 25%. The exact cap will be set at pricing.

Investors will share in any losses.

The notes are expected to price on Sept. 25 and settle on Sept. 30.

UBS Financial Services Inc. and HSBC USA Inc. are the agents.

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