New Issue: HSBC prices $11.13 million return optimization securities linked to MSCI EAFE via UBS

By E. Janene Geiss

Philadelphia, June 27 - HSBC USA Inc. priced an $11.13 million issue of return optimization securities with partial protection due Dec. 31, 2009 linked to the MSCI EAFE index, according to a 424B2 filing with the Securities and Exchange Commission.

UBS Financial Services and HSBC USA Inc. are the agents.

The payout at maturity will be par of $10 plus double any positive return on the index up to a maximum gain of 21.1%.

If the index declines by 10% or less, payout at maturity will be par. Investors will lose 1% for every 1% the index declines beyond 10%.

Issuer:	Deutsche Bank AG
Issue:	Return optimization securities
Underlying index:	MSCI EAFE index
Amount:	$11,127,200
Maturity:	Dec. 31, 2009
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If index increases, par plus double any index gain, capped at 21.1% return; par for any decline up to 10%; full exposure to any decline beyond 10%
Pricing date:	June 25
Settlement date:	June 30
Agents:	UBS Financial Services Inc. and Deutsche Bank Securities Inc.
Fees:	1.75%

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