New Issue: HSBC prices $7.73 million of one-year notes linked to four currencies

By Angela McDaniels

Tacoma, Wash., Dec. 2 - HSBC USA Inc. priced $7.73 million of 0% notes due Dec. 5, 2011 linked to the performance of a basket of currencies relative to the U.S. dollar, according to a 424B2 filing with the Securities and Exchange Commission.

The basket includes equal weights of the Indian rupee, the Indonesian rupiah, the Korean won and the Singapore dollar.

The payout at maturity will be 95% of par plus the additional amount. If the basket return is less than 3%, the additional amount will be zero. Otherwise, the additional amount will be the greater of 15% and the basket return.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Notes
Underlying currencies:	Indian rupee, Indonesian rupiah, Korean won and Singapore dollar, equally weighted and each relative to the U.S. dollar
Amount:	$7.73 million
Maturity:	Dec. 5, 2011
Coupon:	0%
Price:	Par
Payout at maturity:	If basket return is less than 3%, 95% of par; otherwise, 95% of par plus greater of basket return and 15%
Initial exchange rates:	46.04 for rupee; 9,019 for rupiah; 1,154.50 for won; 1.3177 for Singapore dollar
Pricing date:	Nov. 30
Settlement date:	Dec. 7
Agent:	HSBC Securities (USA) Inc.
Fees:	1%
Cusip:	4042K1AT0

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