New Issue: HSBC USA prices $193,000 equity buffer notes linked to Dow Industrials

By Angela McDaniels

Tacoma, Wash., Jan. 29 - HSBC USA Inc. priced $193,000 of 0% equity buffer notes due July 30, 2010 linked to the Dow Jones Industrial Average, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus double any index gain, subject to a maximum return of 18%. Investors will receive par if the index declines by 20% or less and will lose 1% for every 1% that the index declines beyond 20%.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Equity buffer notes
Underlying index:	Dow Jones Industrial Average
Amount:	$193,000
Maturity:	July 30, 2010
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus double any index gain, up to maximum return of 18%; par if index falls by 20% or less; 1% loss for every 1% decline beyond 20%
Initial index level:	8,174.73
Pricing date:	Jan. 27
Settlement date:	Jan. 30
Agent:	HSBC Securities (USA) Inc.
Fees:	0.5%

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