HSBC to price return optimization securities linked to S&P 500

By Angela McDaniels

Tacoma, Wash., April 7 - HSBC USA Inc. plans to price 0% return optimization securities due April 30, 2010 linked to S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus five times any index gain, subject to a maximum return that is expected to be 25% to 29% and will be set at pricing. Investors will be fully exposed to any index decline.

The notes are expected to price April 20 and settle April 23.

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

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