New Issue: HSBC prices $650,977 9.2% trigger yield optimization notes on Macy's

By Toni Weeks

San Diego, May 31 - HSBC USA Inc. priced $650,977 of 9.2% trigger yield optimization notes due May 31, 2013 linked to the common stock of Macy's, Inc., according to a 424B2 filing with the Securities and Exchange Commission.

Interest is payable monthly.

The face amount of each note will be equal to the initial price of Macy's stock.

The payout at maturity will be par in cash unless the final price of Macy's stock is less than 75% of the initial share price, in which case investors will receive one Macy's 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:	Macy's, Inc. (NYSE: M)
Amount:	$650,977.04
Maturity:	May 31, 2013
Coupon:	9.2%, payable monthly
Price:	Par of $38.99
Payout at maturity:	If final share price is less than trigger price, one Macy's share; otherwise, par
Initial share price:	$38.99
Trigger price:	$29.24, 75% of initial price
Pricing date:	May 29
Settlement date:	May 31
Underwriter:	HSBC Securities (USA) Inc. with UBS Financial Services Inc. as agent
Fees:	2%
Cusip:	40433M658

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