HSBC to sell autocallable optimization notes linked to iShares MSCI Brazil

By Susanna Moon

Chicago, April 8 - HSBC USA Inc. plans to price autocallable optimization securities with contingent protection due April 29, 2011 linked to the iShares MSCI Brazil index fund, according to an FWP filing with the Securities and Exchange Commission.

If the fund closes above its initial share price on any semiannual observation date, the notes will be called for an annualized return of 30% to 37%.

If the notes are not called, investors will receive par at maturity if the index falls by up to 50% and will receive par plus the index return if the index falls beyond 50%.

The notes are expected to price April 27 and settle April 30.

HSBC Securities (USA) Inc. is the agent.

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