New Issue: HSBC prices $555,000 CARS linked to Asian currency basket

By Jennifer Chiou

New York, Feb. 25 - HSBC USA Inc. priced $555,000 of 0% Asian Currency Accelerated Return Securities due Feb. 28, 2013 linked to a basket of four equally weighted currencies relative to the U.S. dollar, according to a 424B2 filing with the Securities and Exchange Commission.

The basket consists of the Philippine peso, Malaysian ringgit, Indonesian rupiah and Singapore dollar.

The payout at maturity will be par plus 150% of any basket gain. Investors will participate in losses if the basket falls by up to 10% and will receive a minimum of 90% of par at maturity.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Asian Currency Accelerated Return Securities
Underlying basket:	Philippine peso, Malaysian ringgit, Indonesian rupiah and Singapore dollar against U.S. dollar, equally weighted
Amount:	$555,000
Maturity:	Feb. 28, 2013
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 150% of any basket gain; participate in losses, with a floor of 90% of par
Initial rates:	43.627 for peso, 3.0492 for ringgit, 8,859 for rupiah and 1.2786 for Singapore dollar
Pricing date:	Feb. 23
Settlement date:	Feb. 28
Agent:	HSBC Securities (USA) Inc.
Fees:	1.75%
Cusip:	4042K1DR1

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