New Issue: HSBC sells $71,000 13-month AMPS on iShares MSCI Emerging Markets fund

By Susanna Moon

Chicago, May 25 - HSBC USA Inc. priced $71,000 of 0% Accelerated Market Participation Securities due June 27, 2011 based on the performance of 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 fund gain, up to a maximum return of 30.5%.

Investors will be exposed to any losses.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Accelerated Market Participation Securities
Underlying fund:	iShares MSCI Emerging Markets index fund
Amount:	$71,000
Maturity:	June 27, 2011
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 300% of any fund gain, capped at 30.5%; exposure to any losses
Initial level:	$37.36
Pricing date:	May 21
Settlement date:	May 26
Agent:	HSBC Securities (USA) Inc.
Fees:	0.433%
Cusip:	4042K0X34

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