HSBC plans knock-out buffer notes due 2014 linked to S&P 500 index

By Susanna Moon

Chicago, Sept. 6 - HSBC USA Inc. plans to price 0% knock-out buffer notes due March 12, 2014 linked to the S&P 500 index, according to an FWP with the Securities and Exchange Commission.

If the index ever falls by more than the 34.05% buffer during the life of the notes, the payout at maturity will be par plus the index return, with exposure to any losses.

Otherwise, the payout will be par plus any index gain, with a contingent minimum return of par.

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

The notes will price on Sept. 7 and settle on Sept. 12.

The Cusip number is 4042K14T7.

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