New Issue: HSBC prices $10.14 million performance notes on currency basket via UBS

By Susanna Moon

Chicago, July 19 - HSBC USA Inc. priced $10.14 million of 0% performance securities due July 23, 2012 linked to a basket of equally weighted currencies relative to the U.S. dollar, according to a 424B2 filing with the Securities and Exchange Commission.

The underlying currencies are the Australian dollar, Canadian dollar, Norwegian krone, Swedish krona and Swiss franc.

The payout at maturity will be par of $10 plus 1.5 times any basket gain.

Investors will be exposed to any losses.

UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.

Issuer:	HSBC USA Inc.
Issue:	Performance securities
Underlying currencies:	Australian dollar, Canadian dollar, Norwegian krone, Swedish krona and Swiss franc, equally weighted against U.S. dollar
Amount:	$10,142,500
Maturity:	July 23, 2012
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 150% of any basket gain; exposure to losses
Initial exchange rates:	0.9396 for Australian dollar, 0.9566 for Canadian dollar, 5.5695 for krone, 6.5176 for krona and 0.8160 for franc
Pricing date:	July 15
Settlement date:	July 20
Agents:	UBS Financial Services Inc. and HSBC Securities (USA) Inc.
Fees:	2%
Cusip:	40433C692

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