New Issue: HSBC prices $1.24 million buffered AMPS on iShares MSCI Emerging Markets fund

By Jennifer Chiou

New York, April 28 - HSBC USA Inc. priced $1.24 million of 0% buffered Accelerated Market Participation Securities due Oct. 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 double any increase in the fund share price, up to a maximum return of 18.5%. Investors will receive par if the share price declines by up to 10% and will lose 1% for each 1% decline beyond the buffer.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Buffered Accelerated Market Participation Securities
Underlying index fund:	iShares MSCI Emerging Markets
Amount:	$1,236,000
Maturity:	Oct. 28, 2011
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 200% of any share price increase, capped at 18.5%; exposure to losses beyond 10%
Initial share price:	$43.05
Pricing date:	April 23
Settlement date:	April 28
Agent:	HSBC Securities (USA) Inc.
Fees:	2.1%
Cusip:	4042K0V51

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