HSBC plans to price PLUS due 2014 with 12.5% cap linked to S&P 500

By Susanna Moon

Chicago, June 7 - HSBC USA Inc. plans to price 0% Performance Leveraged Upside Securities due Aug. 4, 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 $10.00 plus double any index gain, up to a maximum payout of at least $11.25 per note. The exact cap will be set at pricing.

Investors will be exposed to any losses.

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

The notes will price on June 28 and settle on July 3.

The Cusip number is 40433X589.

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