New Issue: HSBC USA prices $3.06 million enhanced market participation notes linked to index basket

By E. Janene Geiss

Philadelphia, June 4 - HSBC USA Inc. priced $3.06 million of 0% enhanced market participation notes due July 6, 2009 linked to an index basket, according to a 424B2 filing with the Securities and Exchange Commission.

The basket consists of equal weights of the Hang Seng Index, MSCI Singapore Free Index and S&P/ASX 200 index.

The payout at maturity will be par plus 300% of any index gain, subject to a maximum return of 30%. Investors will be fully exposed to any index decline.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Enhanced market participation notes
Underlying basket:	Hang Seng Index, MSCI Singapore Free Index and S&P/ASX 200
Amount:	$3,060,000
Maturity:	July 6, 2009
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 300% of any index gain, capped at maximum return of 30%; full exposure to any index decline
Initial index levels:	3,143.45 for Hang Seng, 286.11 for MSCI Singapore Free and 5,392.1 for S&P/ASX 200
Pricing date:	May 30
Settlement date:	June 4
Agent:	HSBC Securities (USA) Inc.
Fees:	1.25%

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