New Issue: HSBC prices $9.04 million autocallable notes due 2013 linked to S&P 500

By Marisa Wong

Madison, Wis., April 24 - HSBC USA Inc. priced $9.04 million of 0% autocallable notes due May 8, 2013 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notes will be automatically called at par plus an annualized call premium of 10.2% if the index closes at or above the initial index level on any of four quarterly observation dates.

If the notes are not called and the final index level is at least 90% of the initial index level, the payout at maturity will be par. Otherwise, investors will lose 1.1111% for every 1% decline beyond the 10% buffer.

HSBC Securities (USA) Inc. is the underwriter.

Issuer:	HSBC USA Inc.
Issue:	Autocallable notes
Underlying index:	S&P 500
Amount:	$9,037,000
Maturity:	May 8, 2013
Coupon:	0%
Price:	Par
Payout at maturity:	If final index level is at least 90% of initial index level, par; otherwise, 1.1111% loss per 1% drop beyond 10%
Call:	Automatically at par plus 10.2% per year if index closes at or above initial index level on Aug. 9, Nov. 8, 2012, Feb. 7, 2013 or May 3, 2013
Initial index level:	1,378.53
Pricing date:	April 20
Settlement date:	April 25
Underwriter:	HSBC Securities (USA) Inc.
Fees:	1%
Cusip:	4042K1G98

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