HSBC plans to price return notes linked to iShares Dow Transportation fund via JPMorgan

By E. Janene Geiss

Philadelphia, July 28 - HSBC USA Inc. plans to price 0% return enhanced notes due Feb. 4, 2010 linked to the iShares Dow Jones Transportation Average Index Fund, according to an FWP filing with the Securities and Exchange Commission.

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

If the index appreciates, the payout at maturity will be par plus triple the percentage increase in the index, subject to a maximum return of 17.5%.

There is no principal protection, so investors will experience a loss if the index return is negative.

The final fund level will be the arithmetic average of the fund's closing levels on five trading days that will be determined at pricing.

The notes will price July 31 and settle Aug. 5.

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