HSBC to price autocallable notes due 2014 linked to Russell 2000

By Jennifer Chiou

New York, March 7 - HSBC USA Inc. plans to price 0% autocallable notes due March 31, 2014 linked to the Russell 2000 index, according to an FWP with the Securities and Exchange Commission.

The notes will be automatically called at par plus an annualized call premium of 5% to 7% if the index closes at or above the initial index level on any of the semiannual observation dates.

If the notes are not called and the final index level is at least 30% of the initial index level, the payout at maturity will be par. Otherwise, investors will lose 1.4286% for every 1% decline beyond the buffer.

The notes (Cusip: 4042K1ZV8) will price on March 26 and settle on March 29.

HSBC Securities (USA) Inc. is the underwriter.

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