HSBC Bank plans uncapped CDs linked to Dow Jones Industrial Average

By Angela McDaniels

Tacoma, Wash., July 7 - HSBC Bank USA, NA plans to price six-year uncapped certificates of deposit with quarterly averaging and minimum return linked to the Dow Jones Industrial Average, according to a term sheet.

The payout at maturity will be par plus the index return, subject to a minimum return that is expected to be 1% to 6% and will be set at pricing.

The final index level used to calculate the index return will be the average of the index's closing levels on the last day of each quarter during the life of the notes.

The CDs will price July 15.

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