New Issue: HSBC USA prices $5.88 million performance securities linked to S&P 500

By Angela McDaniels

Tacoma, Wash., April 29 - HSBC USA Inc. priced $5.88 million of 0% performance securities with contingent protection due April 30, 2013 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the final index return is positive, the payout at maturity will be par of $10 plus 115% of the final index return.

If the final index return is negative, the payout will be par if the index remained at or above the trigger level - 50% of the initial level - throughout the life of the notes. If not, the payout will be par plus the final index return.

UBS Financial Services Inc. is the underwriter.

Issuer:	HSBC USA Inc.
Issue:	Performance securities with contingent protection
Underlying index:	S&P 500
Amount:	$5,877,320
Maturity:	April 30, 2013
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If final index return is positive, par plus 115% of final index return; if final index return is negative and index remained at or above trigger level throughout life of notes, par; if final index return is negative and index fell below trigger level during life of notes, par plus final index return
Initial index level:	1,397.84
Trigger level:	698.92, 50% of initial level
Pricing date:	April 25
Settlement date:	April 30
Underwriter:	UBS Financial Services Inc.
Fees:	3.5%

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