HSBC plans 90% protected emerging markets-linked notes tied to funds

By Jennifer Chiou

New York, May 29 - HSBC USA Inc. plans to price 90% principal-protected emerging markets-linked notes due June 12, 2013 linked to a global fund basket, according to an FWP filing with the Securities and Exchange Commission.

The basket includes the iShares MSCI Emerging Markets index fund, the iShares MSCI Brazil index fund, the iShares FTSE/Xinhua China 25 index fund and the iShares S&P Latin American 40 index fund.

If the worst-performing asset has a positive return, the payout at maturity will be par plus 85% to 95% of any basket gain.

Investors will share in the losses of the worst-performing asset up to 10%.

The notes will price on June 5 and settle on June 12.

HSBC Securities (USA) Inc. is the agent.

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