HSBC Bank plans income and performance CDs linked to BRIC currencies

By Jennifer Chiou

New York, April 4 - HSBC Bank USA, NA plans to price 0% income and performance certificates of deposit due April 30, 2016 linked to an equally weighted basket of currencies against the dollar, according to a term sheet.

The basket contains the Brazilian real, the Russian ruble, the Indian rupee and the Chinese renminbi.

The annually paid coupon will be set at pricing and will be in the range of 0.75% to 1%.

The payout at maturity will be par plus 100% of any gain in the basket. Investors will receive at least par.

The CDs will be putable on April 30, 2012, April 30, 2013, April 30, 2014 and April 30, 2015.

The CDs (Cusip: 40431GQL6) will price on April 20.

HSBC Securities (USA) Inc. is the agent.

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