New Issue: HSBC prices $3.21 million contingent return optimization notes linked to S&P 500 via UBS

By Toni Weeks

San Diego, March 30 - HSBC USA Inc. priced $3.21 million of 0% contingent return optimization securities due March 28, 2013 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the final index level is at least 80% of the initial level, the payout at maturity will be par of $10 plus the greater of 6% and the index return, subject to a maximum return of 25.5%.

If the final index level is less than 80% of the initial level, investors will be fully exposed to the decline.

UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.

Issuer:	HSBC USA Inc.
Issue:	Contingent return optimization securities
Underlying index:	S&P 500 index
Amount:	$3,206,850
Maturity date:	March 28, 2013
Coupon:	0%
Price:	Par
Payout at maturity:	If final index level is at least 80% of initial level, par plus greater of 6% and index return, capped at 25.5%; otherwise full exposure to losses
Initial level:	1,310.19
Trigger level:	1,048.15, 80% of initial level
Pricing date:	March 28
Settlement date:	March 31
Agents:	UBS Financial Services Inc. and HSBC Securities (USA) Inc.
Fees:	2%
Cusip:	40433C502

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