New Issue: HSBC prices $595,000 bearish accelerated market participation notes linked to S&P 500

By Angela McDaniels

Tacoma, Wash., Nov. 30 - HSBC USA Inc. priced $595,000 of 0% bearish accelerated market participation securities due Dec. 30, 2010 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus triple the absolute value of any index decline, up to a maximum return of 16%. Investors will lose 1% for each 1% index gain.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Bearish accelerated market participation securities
Underlying index:	S&P 500 index
Amount:	$595,000
Maturity:	Dec. 30, 2010
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 3% for every 1% index decline, up to maximum return of 16%; 1% loss for each 1% index gain
Initial index level:	1,105.65
Pricing date:	Nov. 24
Settlement date:	Nov. 30
Agent:	HSBC Securities (USA) Inc.
Fees:	0.433%

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