HSBC plans buffered accelerated market notes on DJ U.S. Real Estate

By Susanna Moon

Chicago, Feb. 2 - HSBC USA Inc. plans to price 0% buffered accelerated market participation securities due May 24, 2011 based on the iShares Dow Jones U.S. Real Estate index fund, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par plus double any fund gain, up to a maximum return of 20% to 25%. The exact cap will be set at pricing.

Investors will receive par if the shares fall by up to 10% and will be exposed to any drop beyond 10%.

The notes will price on Feb. 19 and settle on Feb. 24.

HSBC Securities (USA) Inc. is the agent.

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