New Issue: HSBC prices $8.25 million return optimization notes linked to SPDR S&P 500

By Angela McDaniels

Tacoma, Wash., Feb. 27 - HSBC USA Inc. priced $8.25 million of 0% return optimization securities due March 31, 2015 linked to the SPDR S&P 500 ETF Trust, according to a 424B2 filing with the Securities and Exchange Commission.

If the ETF's final share price is greater than or equal to the initial share price, the payout at maturity will be par of $10 plus triple the ETF return, subject to a maximum return of 10.4%. If the ETF's final share price is less than its initial share price, investors will have one-to-one exposure to the decline.

HSBC Securities (USA) Inc. is the underwriter with UBS Financial Services Inc. as agent.

Issuer:	HSBC USA Inc.
Issue:	Return optimization securities
Underlying ETF:	SPDR S&P 500 ETF Trust
Amount:	$8,246,690
Maturity:	March 31, 2015
Coupon:	0%
Price:	Par of $10.00
Payout at maturity:	If ETF's final share price is greater than or equal to initial share price, par plus 300% of ETF return, subject to 10.4% maximum return; if ETF's final share price is less than initial share price, one-to-one exposure to decline
Initial share price:	$184.84
Pricing date:	Feb. 25
Settlement date:	Feb. 28
Underwriter:	HSBC Securities (USA) Inc.
Agent:	UBS Financial Services Inc.
Fees:	2%
Cusip:	40434B172

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