HSBC plans two-year capped leveraged return notes linked to silver

By Susanna Moon

Chicago, Sept. 28 - HSBC USA Inc. plans to price capped Leveraged Index Return Notes due November 2014 linked to the silver spot price, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus double any gain in the price of silver, up to a maximum return of $13.00 to $13.40 per note. The exact cap will be set at pricing.

Investors will receive par if the price of silver falls by up to 10% and will be exposed to any losses beyond 10%.

Bank of America Merrill Lynch will be the agent.

The notes are expected to price in October and settle in November.

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