HSBC to sell accelerated market participation notes linked to Russell

By Jennifer Chiou

New York, Oct. 8 - HSBC USA Inc. plans to price 0% accelerated market participation securities with partial protection due Jan. 28, 2011 linked to the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par plus double any index gain, up to a maximum return of 18% to 23%. The exact cap will be set at pricing.

Investors will receive par if the index falls by up to 10% and will lose 1% for each 1% drop beyond 10%.

The notes will price on Oct. 23 and settle on Oct. 28.

HSBC Securities (USA) Inc. is the agent.

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