HSBC plans return enhanced notes linked to S&P 500 via JPMorgan

By Jennifer Chiou

New York, June 7 - HSBC USA Inc. plans to price 0% return enhanced notes due June 27, 2012 linked to the S&P 500 index, according to an FWP with the Securities and Exchange Commission.

The payout at maturity will be par plus double any index gain, subject to a maximum return of 18%. Investors will share in any losses.

The final index level will be the average of the index's closing levels on the five days ending on June 22, 2012.

The notes (Cusip: 4042K1JU8) will price on June 10 and settle on June 15.

J.P. Morgan Securities LLC is the agent.

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