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Published on 1/28/2008 in the Prospect News Structured Products Daily.

HSBC plans 0% green energy access notes linked to Investable Low Carbon Energy index

By E. Janene Geiss

Philadelphia, Jan. 28 - HSBC USA Inc. plans to price 0% green energy access notes due Feb. 28, 2011 linked to the HSBC Investable Low Carbon Energy Production Total Return index, according to an FWP filing with the Securities and Exchange Commission.

The HSBC Low Carbon Energy index consists of up to 50 stocks that derive more than 50% of reported total revenue from climate change-related activities, have a market capitalization of at least $1 billion and have a six-month average daily trading volume of at least 0.5% of the minimum market capitalization threshold.

Climate change-related activities covers 19 industry sectors: solar; wind; geothermal/hydro; gas; biofuels; nuclear; integrated power; diversified renewables; agrochemicals; carbon trading; investment companies emphasizing one of the other 18 sectors; fuel efficiency autos, including mining or processing of platinum; energy efficient solutions; building insulation; fuel cells; power storage; water; and waste and pollution control.

Investors will be able to exchange their notes early on Feb. 27, 2009 and Feb. 26, 2010.

The payout at maturity or upon early exchange will be 98.5% of par plus the index return and minus an annual fee of 1.5%.

The notes are expected to price Feb. 26 and settle Feb. 29.

HSBC Securities (USA) Inc. is the underwriter.


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