New Issue: HSBC prices $6 million buffered enhanced market participation notes linked to Russell 2000

By Susanna Moon

Chicago, March 9 - HSBC USA Inc. priced $6 million 0% buffered enhanced market participation notes due April 13, 2010 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus triple any index gain, capped at 23.3%.

Investors will receive par if the index falls by up to 20% and will lose 1% for each 1% decline beyond 20%.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Buffered enhanced market participation notes
Underlying index:	Russell 2000 index
Amount:	$6,004,000
Maturity:	April 13, 2010
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus triple any index gain, capped at 23.3%; par if index drops by up to 20%; 1% loss for each 1% drop beyond 20%
Initial level:	351.05
Pricing date:	March 6
Settlement date:	March 13
Agent:	HSBC Securities (USA) Inc.
Fees:	0.15%

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