HSBC plans to price capped PLUS linked to S&P 500 index

By Marisa Wong

Madison, Wis., Oct. 1 - HSBC USA Inc. plans to price 0% Performance Leveraged Upside Securities due October 2014 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 of $10 plus 300% of any gain in the index, subject to a maximum payment of at least $11.10. The exact cap will be set at pricing.

Investors will be fully exposed to losses.

HSBC Securities (USA) Inc. is the agent with Morgan Stanley Smith Barney LLC handling distribution.

The notes will price and settle in October.

The Cusip number is 40433X118.

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