New Issue: HSBC prices $7.13 million return optimization securities linked to S&P 500 via UBS

By Jennifer Chiou

New York, April 23 - HSBC USA Inc. priced $7.13 million of 0% return optimization securities due April 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 of $10 plus five times any index gain, subject to a maximum return of 28.3%. Investors will be fully exposed to any index decline.

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

Issuer:	HSBC USA Inc.
Issue:	Return optimization securities
Underlying index:	S&P 500
Amount:	$7,134,450
Maturity:	April 30, 2010
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus five times any index gain, up to maximum return of 28.3%; full exposure to any index decline
Initial index level:	832.39
Pricing date:	April 20
Settlement date:	April 23
Underwriters:	UBS Financial Services Inc. and HSBC USA Inc.
Fees:	1.25%

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