New Issue: HSBC prices $7.66 million buffered return optimization securities linked to S&P 500

By Toni Weeks

San Diego, March 29 - HSBC USA Inc. priced $7.66 million of 0% buffered return optimization securities due March 31, 2014 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus double any gain in the index, up to a maximum return of 22.26%.

Investors will receive par if the index falls by up to 10% and will be exposed to any losses beyond the 10% buffer.

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

Issuer:	HSBC USA Inc.
Issue:	Buffered return optimization securities
Underlying index:	S&P 500
Amount:	$7,656,680
Maturity:	March 31, 2014
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 200% of any index gain, capped at 22.26%; par for declines up to 10%; 1% loss for every 1% drop beyond 10%
Initial level:	1,412.52
Pricing date:	March 27
Settlement date:	March 30
Underwriter:	HSBC Securities (USA) Inc. with agent UBS Financial Services Inc.
Fees:	2%
Cusip:	40433K330

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