HSBC to sell buffered enhanced market participation notes linked to Financial Select SPDR

By Susanna Moon

Chicago, July 21 - HSBC USA Inc. plans to price 0% buffered enhanced market participation notes due Sept. 30, 2009 linked to shares of the Financial Select Sector SPDR fund, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par plus triple any gain in the fund's share price, up to a maximum return of 24% to 27%. The exact cap will be set at pricing.

Investors will receive par if the fund falls by up to 10% and will lose 1% for each 1% drop in the fund beyond 10%.

The notes are expected to price on July 28 and settle on July 31.

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

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