HSBC plans buffered return enhanced notes tied to S&P 500 via JPMorgan

By Angela McDaniels

Tacoma, Wash., Nov. 3 - HSBC USA Inc. plans to price 0% buffered return enhanced notes due Nov. 24, 2010 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

J.P. Morgan Securities Inc. is the agent.

The payout at maturity will be par plus double any index gain, subject to a maximum return of 15.35%. Investors will receive par if the index declines by 10% or less and will lose 1.1111% for every 1% that it declines beyond 10%.

The notes will price Nov. 6 and settle Nov. 12.

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