New Issue: HSBC USA prices $347,000 enhanced market participation notes linked to Financial Select Sector fund

By E. Janene Geiss

Philadelphia, June 27 - HSBC USA Inc. priced $347,000 of 0% enhanced market participation notes due Aug. 31, 2009 linked to the Financial Select Sector SPDR Fund, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 400% of any gain on the fund, subject to a maximum return of 33%.

Investors will be fully exposed to any decline.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Enhanced market participation notes
Underlying index:	Financial Select Sector SPDR Fund
Amount:	$347,000
Maturity:	Aug. 31, 2009
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 400% of any gain on the fund, capped at maximum return of 33%; full exposure to any fund decline
Initial level:	21.68
Pricing date:	June 25
Settlement date:	June 30
Agent:	HSBC Securities (USA) Inc.
Fees:	1.25%

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