New Issue: HSBC prices $63.4 million dual index upside notes on S&P, Euro Stoxx

By Jennifer Chiou

New York, Oct. 21 - HSBC USA Inc. priced $63.4 million of 0% dual index upside notes due Nov. 7, 2012 linked to the S&P 500 index and the Euro Stoxx 50 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be equal to the cash settlement value, which is the lesser of (a) the return of the S&P 500 index and (b) 10%, plus the greater of (i) Euro Stoxx 50 return minus 6.35% and (ii) zero.

Investors will share in any losses.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Dual index upside notes
Underlying indexes:	S&P 500 and Euro Stoxx 50
Amount:	$63.4 million
Maturity:	Nov. 7, 2012
Coupon:	0%
Price:	Par
Payout at maturity:	Product of the lesser of (a) the return of the S&P 500 index and (b) 10%, plus the greater of (i) Euro Stoxx 50 return minus 6.35% and (ii) zero; exposure to losses
Initial levels:	1,229.50 for S&P, 2,330.08 for Euro Stoxx
Pricing date:	Oct. 19
Settlement date:	Oct. 24
Agent:	HSBC Securities (USA) Inc.
Fees:	1%
Cusip:	4042K1QW6

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