New Issue: HSBC prices $2.81 million trigger performance notes linked to S&P 500

By Angela McDaniels

Tacoma, Wash., March 29 - HSBC USA Inc. priced $2.81 million of 0% trigger performance securities due March 31, 2015 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is positive, the payout at maturity will be par of $10 plus 108% of the index return. Investors will receive par if the index falls by 40% or less and will be fully exposed to losses from the initial level if it falls by more than 40%.

HSBC Securities (USA) Inc. is the underwriter with UBS Financial Services Inc. as dealer.

Issuer:	HSBC USA Inc.
Issue:	Trigger performance securities
Underlying index:	S&P 500
Amount:	$2,806,780
Maturity:	March 31, 2015
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If index return is positive, par plus 108% of index return; par if index falls by 40% or less; full exposure to losses if index falls by more than 40%
Initial index level:	1,412.52
Trigger level:	847.51, 60% of initial level
Pricing date:	March 27
Settlement date:	March 30
Underwriter:	HSBC Securities (USA) Inc.
Dealer:	UBS Financial Services Inc.
Fees:	2.5%
Cusip:	40433K348

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