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HSBC plans leveraged participation securities tied to Chinese renminbi
By Marisa Wong
Madison, Wis., Oct. 3 – HSBC USA Inc. plans to price 0% leveraged participation securities due October 2015 linked to the deliverable Chinese renminbi relative to the dollar, according to an FWP filing with the Securities and Exchange Commission.
If the currency return is zero or positive, the payout at maturity will be par plus at least 4.5 times the return. The exact upside participation rate will be set at pricing. If the currency return is negative, investors will receive 95% of par.
HSBC Securities (USA) Inc. is the agent.
The notes will price and settle in October.
The Cusip number is 40433BQE1.
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