New Issue: HSBC prices $4.69 million of trigger autocallables on iShares MSCI EM

By Toni Weeks

San Diego, Jan. 10 - HSBC USA Inc. priced $4.69 million of 0% trigger autocallable optimization securities due Jan. 12, 2017 linked to the iShares MSCI Emerging Markets index fund, according to a 424B2 filing with the Securities and Exchange Commission.

If the closing share price is greater than the initial price on any quarterly observation date after one year, the notes will be called at par plus an annualized call return of 11.27%.

If the notes are not called and the final price is greater than or equal to 50% of the initial level, the payout at maturity will be par. Otherwise, investors will share fully in losses.

HSBC Securities (USA) Inc. is the underwriter, with UBS Financial Services as agent.

Issuer:	HSBC USA Inc.
Issue:	Trigger autocallable optimization securities
Underlying fund:	iShares MSCI Emerging Markets index fund
Amount:	$4,691,390
Maturity:	Jan. 12, 2017
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If final price is at least 50% of initial level, par; otherwise, full exposure to losses
Call:	Automatically at par plus 11.27% per year if shares close at or above initial level on any quarterly observation date after one year; first observation date is Jan. 11, 2013
Initial index level:	$38.23
Trigger level:	$19.12, 50% of initial price
Pricing date:	Jan. 6
Settlement date:	Jan. 11
Underwriter:	HSBC Securities (USA) Inc. with UBS Financial Services Inc. as agent
Fees:	2.5%
Cusip:	40433K637

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