HSBC to sell 95% protected notes tied to four currencies via JPMorgan

By Susanna Moon

Chicago, Dec. 15 - HSBC USA Inc. plans to price zero-coupon 95% principal-protected notes due Dec. 22, 2011 based on the performance a basket of four equally weighted currencies relative to the U.S. dollar, according to an FWP filing with the Securities and Exchange Commission.

J.P. Morgan Securities Inc. is the agent.

The underlying currencies are the Brazilian real, Australian dollar, Norwegian krone and Canadian dollar.

The payout at maturity will be 95% of par plus at least 160% of any basket gain, up to a maximum return of at least 19%. The exact deal terms will be set at pricing.

The payout will be at least 95% of par.

The notes will price on Dec. 18 and settle on Dec. 23.

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