HSBC plans five-year renminbi income notes with 0.75%-1.25% coupon

By Susanna Moon

Chicago, May 10 - HSBC USA Inc. plans to price fixed-rate notes, denominated in Chinese renminbi with payments in dollars, based on the Chinese renminbi spot rate, according to an FWP with the Securities and Exchange Commission.

The coupon will be 0.75% and 1.25%, with the exact percentage to be set at pricing. Interest is payable semiannually.

The payout at maturity will be par plus the final coupon.

HSBC Securities (USA) Inc. is the agent.

The notes will price on May 17 and settle on May 26.

The Cusip is 40428HPE6.

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