New Issue: HSBC USA prices $721,000 0% notes linked to Asian index basket

By Angela McDaniels

Seattle, Feb. 27 - HSBC USA Inc. priced a $721,000 offering of 0% Far East equity buffer notes due Aug. 26, 2010 linked to a basket of Asian indexes, according to a 424B2 filing with the Securities and Exchange Commission.

The basket includes equal weights of the Nikkei 225, Hang Seng China Enterprises, MSCI Taiwan and MSCI Singapore Free indexes.

The payout at maturity will be par plus 120% of any increase in the basket. Investors will receive par if the basket declines by 20% or less and will lose 1% for each 1% decline in the basket beyond 20%.

Issuer:	HSBC USA Inc.
Issue:	Far East equity buffer notes
Underlying indexes:	Nikkei 225, Hang Seng China Enterprises, MSCI Taiwan and MSCI Singapore Free, equally weighted
Amount:	$721,000
Maturity:	Aug. 26, 2010
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 120% of any basket gain; par if basket declines by 20% or less; 1% loss for each 1% basket decline beyond 20%
Pricing date:	Feb. 23
Settlement date:	Feb. 28
Agent:	HSBC Securities (USA) Inc.
Agent fees:	4%

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