New Issue: HSBC USA prices $692,000 equity buffer notes linked to Market Vectors - Gold Miners fund

By E. Janene Geiss

Philadelphia, Jan. 29 - HSBC USA Inc. priced $692,000 of equity buffer plus notes due Feb. 1, 2011 linked to the Market Vectors - Gold Miners exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

If the price of the fund increases, the payout at maturity will be par plus triple increase, subject to a maximum return of par plus 57%. Investors will receive par if the fund declines by 20% or less and lose 1% for every 1% the fund declines beyond 20%.

HSBC Securities (USA) Inc. will be the underwriter.

Issuer:	HSBC USA Inc.
Issue:	Equity buffer notes
Underlying index:	Market Vectors - Gold Miners exchange-traded fund
Amount:	$692,000
Maturity:	Feb. 1, 2011
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus triple any increase, capped at par plus 57%; par if the fund declines by 20% or less and full exposure to any decline beyond 20%
Initial value:	$33.47
Pricing date:	Jan. 27
Settlement date:	Jan. 30
Agent:	HSBC Securities (USA) Inc.
Fees:	2.5%

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