New Issue: HSBC USA prices $5.124 million 0% buffer notes linked to three indexes

By Angela McDaniels

Seattle, Nov. 22 - HSBC USA Inc. priced a $5.124 million issue of 0% global equity buffer notes linked to a basket containing equal weights of the S&P 500, Dow Jones Euro Stoxx 50 and Nikkei 225 indexes, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 120% of any positive return on the basket. If the basket declines by 20% or less, the payout will be par. If the basket falls by more than 20%, investors will lose 1% for each 1% the basket declines beyond 20%.

Issuer:	HSBC USA Inc.
Issue:	Global equity buffer notes
Underlying basket:	S&P 500, Dow Jones Euro Stoxx 50 and Nikkei 225 indexes, equally weighted
Amount:	$5.124 million
Maturity:	Feb. 28, 2011
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 120% of any positive basket return; par if basket falls by 20% or less; 1% loss for each 1% decline beyond 20%
Pricing date:	Nov. 22
Settlement date:	Nov. 30
Agent:	HSBC Securities (USA) Inc.
Agent fee:	3.5%

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