New Issue: HSBC prices $35,000 AMPS linked to iShares MSCI Emerging Markets

By Angela McDaniels

Tacoma, Wash., April 27 - HSBC USA Inc. priced $35,000 of 0% Accelerated Market Participation Securities due July 28, 2011 linked to the iShares MSCI Emerging Markets 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 exchange-traded fund's share price, subject to a maximum return of 25.5%. Investors will be exposed to any share price decline.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Accelerated Market Participation Securities
Underlying ETF:	iShares MSCI Emerging Markets index fund
Amount:	$35,000
Maturity:	July 28, 2011
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus triple any share price gain, up to maximum return of 25.5%; exposure to any share price decline
Initial share price:	$43.05
Pricing date:	April 23
Settlement date:	April 28
Agent:	HSBC Securities (USA) Inc.
Fees:	1.75%
Cusip:	4042K0U78

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