HSBC USA to price bearish return optimization securities linked to Dow Jones Industrial Average

By Jennifer Chiou

New York, July 2 - HSBC USA Inc. plans to price 0% bearish return optimization securities with partial protection due Sept. 30, 2009 linked to the Dow Jones Industrial Average, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 5% for each 1% decline in the index, subject to a maximum return of 15% to 17%. Investors will receive par for gains up to 10% and will share in losses determined according to gains beyond 10%.

The securities will price on July 28 and settle on July 31.

UBS Financial Services and HSBC USA Inc. are the underwriters.

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