HSBC to price return enhanced notes linked to Oil Service Holdrs via JPMorgan

By Angela McDaniels

Tacoma, Wash., Feb. 2 - HSBC USA Inc. plans to price 0% return enhanced notes due Aug. 12, 2010 linked to the Oil Service Holdrs trust, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 300% of any gain in the price of the trust's depositary receipts, subject to a maximum return of 19.85%. Investors will be exposed to any decline in the price of the depositary receipts.

The notes will price Feb. 5 and settle Feb. 10.

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

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