New Issue: HSBC prices $76,000 SelectInvest notes due 2015 tied to iShares MSCI EM

By Toni Weeks

San Luis Obispo, Calif., March 26 - HSBC USA Inc. priced $76,000 of 0% SelectInvest debt securities due March 30, 2015 linked to the iShares MSCI Emerging Markets exchange-traded fund, according to a 424B2 filing with the Securities and Exchange Commission.

If the fund return is greater than zero, the payout at maturity will be par plus the fund return, subject to a maximum return of 9%. If the fund declines by 10% or less, the payout will be par. If the fund declines by more than 10%, investors will lose 1% for every 1% that the fund return is below negative 10%.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	SelectInvest debt securities
Underlying fund:	iShares MSCI Emerging Markets ETF
Amount:	$76,000
Maturity:	March 30, 2015
Coupon:	0%
Price:	Par
Payout at maturity:	If fund return is greater than zero, par plus fund return, subject to maximum return of 9%; if fund declines by 10% or less, par; otherwise, 1% loss for every 1% that fund return is below negative 10%
Initial fund level:	$39.36
Pricing date:	March 24
Settlement date:	March 27
Agent:	HSBC Securities (USA) Inc.
Fees:	1%
Cusip:	40432XUV1

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