HSBC plans three-year best-of performance notes linked to S&P 500

By Jennifer Chiou

New York, Jan. 24 - HSBC USA Inc. plans to price 0% best-of performance notes due 2014 linked to the S&P 500 index, according to an FWP with the Securities and Exchange Commission.

If the index closes below the to-be-determined barrier level - 69% to 73% of the initial level - during the life of the notes, the payout at maturity will be par plus the index return, which could be positive or negative.

Otherwise, the payout will be par plus the greater of the index return and the 15% contingent minimum return.

The Cusip is 4042K1CR2.

HSBC Securities (USA) Inc. is the agent.

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