New Issue: HSBC prices $817,000 buffered market participation securities linked to Russell 2000

By Angela McDaniels

Tacoma, Wash., Jan. 26 - HSBC USA Inc. priced $817,000 of 0% buffered market participation securities due July 27, 2011 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 any index gain, subject to a maximum return of 18%. Investors will receive par if the index declines by 25% or less and will lose 1% for every 1% decline beyond 25%.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Buffered market participation securities
Underlying index:	Russell 2000
Amount:	$817,000
Maturity:	July 27, 2011
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus any index gain, up to maximum return of 18%; par if index declines by 25% or less; 1% loss for every 1% index decline beyond 25%
Initial index level:	617.12
Pricing date:	Jan. 22
Settlement date:	Jan. 27
Agent:	HSBC Securities (USA) Inc.
Fees:	0.6%
Cusip:	4042K0L60

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