HSBC plans to price one-year gold participation notes via JPMorgan

By Toni Weeks

San Diego, Oct. 11 - HSBC USA Inc. plans to price 0% participation notes due Oct. 29, 2012 linked to the spot price of gold, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par plus any gain in the price of gold, subject to a maximum return of 25.75%.

Investors will receive par if the price of gold falls by up to 25% and will be exposed to losses from the initial level if it falls by more than 25%.

The notes (Cusip: 4042K1QE6) are expected to price Oct. 14 and settle Oct. 21.

HSBC Securities (USA) Inc. and J.P. Morgan Securities LLC will act as agents.

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