New Issue: HSBC prices $2.71 million step-up notes linked to DAX Price Return

By Angela McDaniels

Tacoma, Wash., June 3 - HSBC USA Inc. priced $2.71 million of 0% market-linked step-up notes due May 29, 2015 linked to the DAX Price Return index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout maturity will be par of $10 plus the index return if the final index level is greater than the step-up value, which is 119% of the initial index level.

If the final index level is greater than or equal to the initial index level but less than or equal to the step-up value, the payout at maturity will be par plus 19%.

Investors will be exposed to any index decline.

BofA Merrill Lynch is the agent.

Issuer:	HSBC USA Inc.
Issue:	Market-linked step-up notes
Underlying index:	DAX Price Return index
Amount:	$2,707,020
Maturity:	May 29, 2015
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If index finishes above step-up value, par plus index return; if index finishes at or above initial level but at or below step-up value, par plus 19%; full exposure to any index decline
Initial index level:	4,446.88
Step-up value:	5,291.79, 119% of initial level
Pricing date:	May 30
Settlement date:	June 6
Agent:	BofA Merrill Lynch
Fees:	2%
Cusip:	40433X787

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