HSBC plans one-year buffered return enhanced notes linked to S&P 500

By Susanna Moon

Chicago, Feb. 15 - HSBC USA Inc. plans to price 0% buffered return enhanced notes due March 6, 2013 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par plus double any gain in the index, up to a maximum return of 12.3%.

Investors will receive par if the index falls by up to 10% and will lose 1.11111% for every 1% decline beyond 10%.

HSBC Securities (USA) Inc. is the underwriter with J.P. Morgan Securities LLC as the dealer.

The notes will price on Feb. 17 and settle on Feb. 23.

The Cusip is 4042K1XS7.

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