New Issue: HSBC prices $894,000 buffered return enhanced notes linked to S&P 500

By Susanna Moon

Chicago, Sept. 6 - HSBC USA Inc. priced $894,000 of 0% buffered return enhanced notes due Sept. 13, 2012 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The payout at maturity will be par plus double any index gain, up to a maximum return of 15%.

Investors will receive par if the index falls by up to 10% and will lose 1.11111% for each 1% decline beyond 10%.

HSBC Securities (USA) Inc. is the underwriter. JPMorgan Chase Bank, NA is the placement agent.

Issuer:	HSBC USA Inc.
Issue:	Buffered return enhanced notes
Underlying index:	S&P 500 index
Amount:	$894,000
Maturity:	Sept. 13, 2012
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 200% of any index gain, capped at 15%; par for losses up to 10%; 1.11111% loss per 1% drop beyond 10%
Initial index level:	1,204.42
Pricing date:	Sept. 1
Settlement date:	Sept. 9
Underwriter:	HSBC Securities (USA) Inc. with J.P. Morgan Securities LLC as agent
Fees:	1%
Cusip:	4042K1NF6

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