New Issue: HSBC prices $208,000 of bearish AMPS linked to Russell 2000 index

By Jennifer Chiou

New York, Jan. 31 - HSBC USA Inc. priced $208,000 of 0% bearish Accelerated Market Participation Securities due Aug. 1, 2012 linked to the Russell 2000 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 200% of the absolute value of any index decline, subject to a maximum return of 21%. If the index gains, the payout will be par minus the return percentage.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Bearish Accelerated Market Participation Securities
Underlying index:	Russell 2000
Amount:	$208,000
Maturity:	Aug. 1, 2012
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 2% for every 1% index decline, up to maximum return of 21%; par minus 1% for every 1% index gain
Initial index level:	795.43
Pricing date:	Jan. 27
Settlement date:	Feb. 1
Agent:	HSBC Securities (USA) Inc.
Fees:	2.1%
Cusip:	4042K1CM3

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