HSBC to price performance notes linked to basket of five currencies

By Toni Weeks

San Diego, July 1 - HSBC USA Inc. plans to price 0% performance securities due July 20, 2012 linked to a basket of five currencies, equally weighted and relative to the U.S. dollar, according to an FWP filing with the Securities and Exchange Commission.

The basket consists of the Australian dollar, the Canadian dollar, the Norwegian krone, the Swedish krona and the Swiss franc.

The payout at maturity will be par plus the basket return times a participation rate that is expected to be 130% to 160%. The exact participation rate will be set at pricing.

Investors will be fully exposed to losses.

The notes (Cusip: 40433C692) will price July 15 and settle July 20.

UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.

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