HSBC plans to price PLUS linked to iShares MSCI Emerging Markets ETF

By Angela McDaniels

Tacoma, Wash., April 21 - HSBC USA Inc. plans to price 0% Performance Leveraged Upside Securities due June 27, 2012 linked to the iShares MSCI Emerging Markets index fund, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus triple any increase in the fund's share price, subject to a maximum return of 16% to 20% that will be set at pricing. Investors will be exposed to any decline in the share price.

The notes (Cusip: 40433C841) will price May 24 and settle May 27.

HSBC Securities (USA) Inc. is the agent. It will use all of the fees received to pay a sales commission to Morgan Stanley Smith Barney LLC.

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