New Issue: HSBC prices $22.85 million optimization securities linked to Russell 2000

By Angela McDaniels

Tacoma, Wash., Oct. 28 - HSBC USA Inc. priced $22.85 million of 0% optimization securities with contingent protection due April 30, 2012 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index return is greater than 8%, the payout at maturity will be par of $10 plus the lesser of the index return and 24.16%. If the index return is between 8% and negative 25%, the payout will be par plus 8%. If the index return is less than negative 25%, the payout will be par plus the index return.

UBS Financial Services Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Optimization securities with contingent protection
Underlying index:	Russell 2000
Amount:	$22,845,910
Maturity:	April 30, 2012
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If index return is greater than 8%, par plus lesser of index return and 24.16%; if index return is between 8% and negative 25%, par plus 8%; if index return is less than negative 25%, par plus index return
Initial index level:	706.93
Pricing date:	Oct. 26
Settlement date:	Oct. 29
Agent:	UBS Financial Services Inc.
Fees:	2%
Cusip:	40432R492

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