HSBC to price performance securities tied to currency basket via UBS

By Marisa Wong

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

The underlying currencies are the Australian dollar, Canadian dollar, Norwegian krone and Swedish krona.

The payout at maturity will be par of $10 plus 1.3 to 1.6 times any basket gain. The exact participation rate will be set at pricing.

Investors will be exposed to any losses.

The notes (Cusip: 40433C635) will price July 26 and settle July 29.

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

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