Pricing Supplement Addendum dated November 20, 2008

to Pricing Supplement dated June 10, 2008

to Prospectus Addendum dated December 12, 2007

to Prospectus Supplement dated October 12, 2007

and Prospectus dated April 5, 2006

Linked to the S&P Commodity Trends Indicator — Total Return

Due June 16, 2023

Issuer:	HSBC USA Inc.
CUSIP Number:	4042EP 602
Principal Amount of Securities:	$2,000,000
Public Offering Price:	113.10%
Trade Date:	November 20, 2008
Settlement Date:	November 25, 2008

CALCULATION OF REGISTRATION FEE

Title of Each Class of Securities To Be Registered	Amount To Be Registered	Proposed Maximum Aggregate Price Per Unit	Proposed Maximum Aggregate Offering Price	Amount of Registration Fee
ELEMENTS Linked to the S&P Commodity Trends Indicator — Total Return Due June 16, 2023	$2,000,000	113.10%	$2,262,000	$88.90

ELEMENTS^SM and are service marks of Merrill Lynch, Pierce, Fenner & Smith Incorporated