New Issue: HSBC sells $174,000 13-month AMPS tied to iShares FTSE/Xinhua China 25

By Marisa Wong

Madison, Wis., Nov. 24 - HSBC USA Inc. priced $174,000 of 0% Accelerated Market Participation Securities due Dec. 28, 2011 based on the performance of the iShares FTSE/Xinhua China 25 index fund, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus triple any increase in the index fund share price, up to a maximum return of 25.5%.

Investors will be exposed to any losses.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Accelerated Market Participation Securities
Underlying index fund:	iShares FTSE/Xinhua China 25
Amount:	$174,000
Maturity:	Dec. 28, 2011
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 300% of any index fund gain, capped at 25.5%; exposure to losses
Initial share price:	$44.48
Pricing date:	Nov. 22
Settlement date:	Nov. 26
Agent:	HSBC Securities (USA) Inc.
Fees:	0.5%
Cusip:	4042K07H2

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