New Issue: HSBC prices $2 million buffered return enhanced notes linked to S&P 500

By Angela McDaniels

Tacoma, Wash., April 29 - HSBC USA Inc. priced $2 million of 0% buffered return enhanced notes due April 30, 2015 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 1.5 times any index gain, up to a maximum return of 17.1%. Investors will receive par if the index falls by up to 15% and will lose 1.1765% for each 1% decline beyond 15%.

HSBC Securities (USA) Inc. is the underwriter, and J.P. Morgan Securities LLC is the agent.

Issuer:	HSBC USA Inc.
Issue:	Buffered return enhanced notes
Underlying index:	S&P 500 index
Amount:	$2 million
Maturity:	April 30, 2015
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 150% of any index gain, capped at 17.1%; par if index falls by up to 15%; 1.1765% loss per 1% drop beyond 15%
Initial level:	1,585.16
Pricing date:	April 25
Settlement date:	April 30
Underwriter:	HSBC Securities (USA) Inc.
Agent:	J.P. Morgan Securities LLC
Fees:	0.5%
Cusip:	40432XEZ0

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