New Issue: HSBC prices $524,000 15-month AMPS linked to Russell 2000 index

By Marisa Wong

Madison, Wis., Nov. 24 - HSBC USA Inc. priced $524,000 of 0% Accelerated Market Participation Securities due Feb. 27, 2012 based on the performance of the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus triple any gain in the index, up to a maximum return of 22%.

Investors will be exposed to any losses.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Accelerated Market Participation Securities
Underlying index:	Russell 2000
Amount:	$524,000
Maturity:	Feb. 27, 2012
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 300% of any index gain, capped at 22%; exposure to losses
Initial index level:	727.33
Pricing date:	Nov. 22
Settlement date:	Nov. 26
Agent:	HSBC Securities (USA) Inc.
Fees:	2%
Cusip:	4042K07K5

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