HSBC Bank USA plans Far East opportunity CD linked to index basket via JVB

By Jennifer Chiou

New York, May 9 - HSBC Bank USA NA, New York Branch plans to issue a Far East opportunity index-linked certificate of deposit due Nov. 30, 2010 linked to equal weights of the Nikkei 225 and Hong Kong Hang Seng China Enterprises indexes via JVB Financial Group LLC, according to a term sheet.

At maturity, the CDs will pay par plus the basket return.

Holders have the option to put the CDs back in whole on May 30, 2008, May 29, 2009 and May 28, 2010.

The CDs will price on May 17 and settle on May 23.

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