New Issue: HSBC prices $2.39 million 10.45% trigger yield optimization notes linked to SanDisk

By Jennifer Chiou

New York, Dec. 30 - HSBC USA Inc. priced $2.39 million of 10.45% trigger yield optimization notes due Dec. 31, 2012 linked to SanDisk Corp. shares, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be payable monthly.

The face amount of each note is equal to the initial price of SanDisk stock.

The payout at maturity will be par in cash unless the final price of SanDisk stock is less than 70% of the initial share price, in which case investors will receive one SanDisk share per note.

UBS Financial Services Inc. and HSBC USA Inc. are the agents.

Issuer:	HSBC USA Inc.
Issue:	Trigger yield optimization notes
Underlying stock:	SanDisk Corp. (Nasdaq: SNDK)
Amount:	$2,391,294.95
Maturity:	Dec. 31, 2012
Coupon:	10.45%, payable monthly
Price:	Par of $49.15
Payout at maturity:	If final share price is less than trigger price, one SanDisk share; otherwise, par
Initial share price:	$49.15
Trigger price:	$34.41, 70% of initial price
Pricing date:	Dec. 28
Settlement date:	Dec. 30
Agents:	UBS Financial Services Inc. and HSBC USA Inc.
Fees:	2%
Cusip:	40433K736

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