HSBC plans 10.5% callable yield notes on Russell, Market Vectors Gold

By Jennifer Chiou

New York, Feb. 11 - HSBC USA Inc. plans to price 10.5% callable yield notes due Feb. 27, 2012 linked to the Russell 2000 index and the Market Vectors Gold Miners exchange-traded fund, according to an FWP with the Securities and Exchange Commission.

Interest will be payable quarterly.

The payout at maturity will be par unless either underlying component closes at or below the to-be-set trigger level - 60% to 65% of its initial level - during the life of the notes, in which case investors will receive par plus the return of the worst-performing underlying component, subject to a maximum payout of par.

The notes will be callable at par on any interest payment date.

The notes (Cusip: 4042K1DZ31) are expected to price on Feb. 22 and settle on Feb. 25.

HSBC Securities (USA) Inc. is the agent.

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