HSBC plans 0% enhanced market participation notes linked to S&P 500 and iShares MSCI EAFE

By E. Janene Geiss

Philadelphia, Jan. 30 - HSBC USA Inc. plans to price 0% enhanced market participation notes due Aug. 27, 2010 linked to a basket consisting of the S&P 500 and iShares MSCI EAFE Index Fund, according to an FWP filing with the Securities and Exchange Commission.

If the final basket level is at least the initial level, the payout will be par plus double any gain on the basket, capped at a payout of between 125% and 130% of par. The exact cap will be set at pricing.

If the final basket level is below the initial level, the payout will be par times the basket performance.

The notes are expected to price Feb. 24 and settle Feb. 27.

HSBC Securities (USA) Inc. is the underwriter.

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