New Issue: HSBC sells $2.41 million trigger PLUS tied to iShares MSCI Brazil fund

By Toni Weeks

San Diego, Aug. 29 - HSBC USA Inc. priced $2.41 million of 0% trigger Performance Leveraged Upside Securities due Feb. 22, 2013 linked to the iShares MSCI Brazil index fund, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par of $10 plus 1.5 times any increase in the fund, subject to a maximum payment of $14.30 per $10.00 principal amount.

Investors will receive par if the fund falls by up to 10% and will be fully exposed to losses from the initial level if it declines beyond 10%.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Trigger Performance Leveraged Upside Securities
Underlying fund:	iShares MSCI Brazil index fund
Amount:	$2,409,000
Maturity:	Feb. 22, 2013
Coupon:	0%
Price:	Par
Payout at maturity:	If fund return is positive, par plus 1.5 times the increase in fund, subject to maximum return of 43%; par if fund falls by up to 10%; full exposure to losses if fund falls beyond 10%
Initial price:	$60.49
Trigger level:	$54.441, 90% of initial price
Pricing date:	Aug. 25
Settlement date:	Aug. 30
Underwriter:	HSBC Securities (USA) Inc.
Fees:	2%
Cusip:	40433C627

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