New Issue: HSBC prices $1.58 million digital notes linked to S&P 500, Russell 2000

By Jennifer Chiou

New York, March 6 - HSBC USA Inc. priced $1,581,000 of 0% digital notes due May 24, 2013 linked to the S&P 500 index and the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

If both indexes finish at or above the 70% barrier level, the payout at maturity will be par plus the maximum upside return of 9.75%.

Otherwise, investors will receive par plus the return of the least performing index.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Digital notes
Underlying indexes:	S&P 500 and Russell 2000
Amount:	$1,581,000
Maturity:	May 24, 2013
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 9.75% if both indexes finish at or above the 70% barrier level; otherwise, par plus return of worst-performing index
Initial levels:	1,369.63 for S&P; 802.42 for Russell
Buffer levels:	70% of initial levels
Pricing date:	March 2
Settlement date:	March 7
Agent:	J.P. Morgan Securities LLC
Fees:	1.5%
Cusip:	4042K1XY4

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