New Issue: HSBC prices $3.08 million buffered AMPS linked to two indexes, ETF

By Marisa Wong

Madison, Wis., Jan. 19 - HSBC USA Inc. priced $3.08 million of 0% buffered Accelerated Market Participation Securities due April 23, 2012 linked to a basket of two indexes and an exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

The basket includes equal weights of the S&P 500 index, Russell 2000 index and iShares MSCI EAFE index fund.

The payout at maturity will be par plus double any increase in the basket, subject to a maximum return of 12%. Investors will receive par if the basket falls by 10% or less and will lose 1% for each 1% decline beyond 10%.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Buffered Accelerated Market Participation Securities
Underlying components:	S&P 500 index, Russell 2000 index, iShares MSCI EAFE index fund; all equally weighted
Amount:	$3,079,000
Maturity:	April 23, 2012
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus double any basket gain, return capped at 12%; par if basket falls by 10% or less; 1% loss for each 1% decline beyond 10%
Initial share prices:	1,295.02 for S&P 500; 807.56 for Russell; $59.84 for iShares MSCI EAFE
Pricing date:	Jan. 18
Settlement date:	Jan. 21
Agent:	HSBC Securities (USA) Inc.
Fees:	0.625%
Cusip:	4042K1CN1

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