New Issue: HSBC prices $1 million best-of performance notes tied to S&P 500

By Marisa Wong

Madison, Wis., Jan. 27 - HSBC USA Inc. priced $1 million of 0% best-of performance notes due Jan. 30, 2014 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index's closing level remains at or above 69% of its initial level throughout the life of the notes, the payout at maturity will be par plus the greater of the index return and 15%. Otherwise, the payout will be par plus the index return, which could be positive or negative.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Best-of performance notes
Underlying index:	S&P 500
Amount:	$1 million
Maturity:	Jan. 30, 2014
Coupon:	0%
Price:	Par
Payout at maturity:	If index's closing level remains at or above barrier level throughout life of notes, par plus greater of index return and 15%; otherwise, par plus index return with exposure to any losses
Initial index level:	1,291.18
Barrier level:	890.91, 69% of initial level
Pricing date:	Jan. 25
Settlement date:	Jan. 28
Agent:	HSBC Securities (USA) Inc.
Fees:	1%
Cusip:	4042K1CR2

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