New Issue: HSBC sells $1.71 million buffered accelerated market participation notes on Hang Seng China

By Angela McDaniels

Tacoma, Wash., Jan. 26 - HSBC USA Inc. priced $1.71 million of 0% buffered accelerated market participation securities due July 27, 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 21%. 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:	Buffered accelerated market participation securities
Underlying index:	Hang Seng China Enterprises
Amount:	$1,705,000
Maturity:	July 27, 2011
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus double any index gain, subject to maximum return of 21%; par if index falls by 10% or less; 1% loss for every 1% decline beyond 10%
Initial index level:	11,858.46
Pricing date:	Jan. 25
Settlement date:	Jan. 27
Agent:	HSBC Securities (USA) Inc.
Fees:	2.1%
Cusip:	4042K0K61

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