New Issue: HSBC prices $412,000 accelerated market participation securities linked to Hang Seng China

By Angela McDaniels

Tacoma, Wash., Oct. 27 - HSBC USA Inc. priced $412,000 of 0% accelerated market participation securities due April 28, 2011 linked to the Hang Seng China Enterprises index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus double any index gain, subject to a maximum return of 24%. Investors will receive par if the index declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Accelerated market participation securities
Underlying index:	Hang Seng China Enterprises
Amount:	$412,000
Maturity:	April 28, 2011
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus double any index gain, up to maximum return of 24%; par if index falls by 10% or less; 1% loss for every 1% decline beyond 10%
Initial index level:	13,316.02
Pricing date:	Oct. 26
Settlement date:	Oct. 28
Agent:	HSBC Securities (USA) Inc.
Fees:	1.5%

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