HSBC plans to price one-year notes linked to four currencies

By Angela McDaniels

Tacoma, Wash., Nov. 30 - HSBC USA Inc. plans to price 0% notes due Dec. 6, 2011 linked to the performance of a basket of currencies relative to the dollar, according to an FWP filing with the Securities and Exchange Commission.

The basket includes equal weights of the Indian rupee, the Indonesian rupiah, the Korean won and the Singapore dollar.

The payout at maturity will be 95% of par plus the additional amount. If the basket return is less than 3%, the additional amount will be zero. If the basket return is at least 3% but less than 14.75%, the additional amount will be 14.75%. If the basket return is 14.75% or more, the additional amount will be equal to the basket return.

The notes (Cusip 4042K1AU7) are expected to price Dec. 3 and settle Dec. 10.

HSBC Securities (USA) Inc. is the agent.

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