HSBC delays pricing of 0% performance securities linked to Investable Climate Change index

By Laura Lutz

Des Moines, Nov. 16 - HSBC USA Inc. pushed back the pricing date of its 0% performance securities due Nov. 21, 2012 linked to the HSBC Investable Climate Change index, according to an FWP filing with the Securities and Exchange Commission.

The notes are now expected to price on Nov. 19, delayed from Nov. 16. They are expected to settle on Nov. 21.

The HSBC Climate Change index consists of up to 50 stocks that derive more than 50% of reported total revenue from climate change-related activities, have a market capitalization of at least $1 billion and a six-month average daily trading volume of at least 0.5% of the minimum market capitalization threshold.

Climate change-related activities covers 19 industry sectors: solar; wind; geothermal/hydro; gas; biofuels; nuclear; integrated power; diversified renewables; agrochemicals; carbon trading; investment companies emphasizing one of the other 18 sectors; fuel efficiency autos, including mining or processing of platinum; energy efficient solutions; building insulation; fuel cells; power storage; water; and waste and pollution control.

If the final index level is at least the initial level, the payout at maturity will be par plus 110% of the index performance. Otherwise, the payout will be par times the index performance.

UBS Financial Services Inc. and HSBC USA Inc. are the underwriters.

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