New Issue: HSBC USA prices $33.5 million 0% performance securities linked to index basket

By Angela McDaniels

Seattle, May 29 - HSBC USA Inc. priced a $33.5 million issue of 0% performance securities with partial protection due May 28, 2010 linked to a basket of three indexes, according to a 424B2 filing with the Securities and Exchange Commission.

The basket includes equal weights of the Dow Jones Euro Stoxx 50, Nikkei 225, Swiss Market, FTSE 100 and MSCI Emerging Markets indexes.

The payout at maturity will be par of $10 plus 120.3% of any basket gain. Investors will receive par if the index declines by 20% or less and will lose 1% for each 1% decline beyond 20%.

UBS Financial Services, Inc. is agent with HSBC USA Inc. as joint agent.

Issuer:	HSBC USA Inc.
Issue:	Performance securities
Underlying indexes:	Dow Jones Euro Stoxx 50, Nikkei 225, Swiss Market, FTSE 100 and MSCI Emerging Markets, equally weighted
Amount:	$33.5 million
Maturity:	May 28, 2010
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 120.3% of any basket gain; par if basket falls by 20% or less; 1% loss for each 1% drop beyond 20%
Pricing date:	May 24
Settlement date:	May 31
Agent:	UBS Financial Services, Inc., HSBC USA Inc.
Fees:	2.5%

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