HSBC plans to price PLUS linked to S&P 500 index via Morgan Stanley

By Jennifer Chiou

New York, Nov. 23 - HSBC USA Inc. plans to price 0% Performance Leveraged Upside Securities due Jan. 30, 2012 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

HSBC Securities (USA) Inc. and Morgan Stanley Smith Barney LLC are the agents, and the latter will receive the fees.

The payout at maturity will be par of $10.00 plus triple any gain in the index, up to a maximum of $11.50 to $11.90 per note. The exact cap will be set at pricing.

Investors will share in any losses.

The notes (Cusip: 40432R369) are expected to price on Dec. 27 and settle on Dec. 30.

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