HSBC Bank to price barrier rebate CD linked to Russell 2000 index

By Jennifer Chiou

New York, June 10 - HSBC Bank USA, NA plans to issue barrier rebate certificates of deposit to mature on June 27, 2013 linked to the Russell 2000 index, according to a term sheet.

If the index, at all times, remains equal to or below the barrier of 175% of the initial level, the payout at maturity will be par plus the index return.

If the index breaches the barrier level, the payout will be the rebate return, which is expected to be 5% to 8%.

The notes will price on June 23 and settle on June 26.

HSBC Securities (USA) Inc. will be the agent.

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