HSBC plans buffered return optimization notes tied to iShares MSCI EM

By Susanna Moon

Chicago, May 15 - HSBC USA Inc. plans to price 0% buffered return optimization securities due May 30, 2014 linked to the iShares MSCI Emerging Markets index fund, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus double any gain in the fund, up to a maximum return of 24.5% to 28.5%. The exact cap will be set at pricing.

Investors will receive par if the shares fall by up to 10% and will lose 1% for each 1% decline beyond 10%.

HSBC Securities (USA) Inc. is the agent, and UBS Financial Services Inc. is the dealer.

The notes will price on May 25 and settle on May 31.

The Cusip number is 40433M773.

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