New Issue: HSBC prices $5.27 million 10.05% trigger yield optimization notes linked to Cummins

By Toni Weeks

San Diego, April 17 - HSBC USA Inc. priced $5.27 million of 10.05% trigger yield optimization notes due April 19, 2013 linked to the common stock of Cummins Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The face amount of each note will equal the initial share price of Cummins stock.

The payout at maturity will be par unless the final price of Cummins stock is less than 75% of the initial share price, in which case investors will receive one Cummins share per note.

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

Issuer:	HSBC USA Inc.
Issue:	Trigger yield optimization notes
Underlying stock:	Cummins Inc. (NYSE: CMI)
Amount:	$5,267,724.00
Maturity:	April 19, 2013
Coupon:	10.05%, payable monthly
Price:	Par of $114.02
Payout at maturity:	If final share price is less than trigger price, one Cummins share; otherwise, par
Initial share price:	$114.02
Trigger price:	$85.52, 75% of initial price
Pricing date:	April 13
Settlement date:	April 18
Underwriters:	HSBC Securities (USA) Inc., with UBS Financial Services Inc. as agent
Fees:	2%
Cusip:	40433M401

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