HSBC to price autocallable notes due 2014 tied to six Asian currencies

By Marisa Wong

Madison, Wis., Sept. 19 - HSBC USA Inc. plans to price 0% autocallable notes due Sept. 29, 2014 linked to the performance of a basket of six currencies relative to the U.S. dollar, according to an FWP filing with the Securities and Exchange Commission.

The equally weighted basket contains the Indian rupee, Indonesian rupiah, Korean won, Malaysian ringgit, Singapore dollar and Thai baht.

The notes will be called at par plus a premium of 10% per year if the basket closes at or above the initial level on any of three observation dates, Sept. 23, 2013, March 21, 2014 or Sept. 22, 2014.

If the notes are not called and the basket return is greater than or equal to negative 10%, the payout at maturity will be par. Investors will be fully exposed to the decline from the initial level if the basket falls by more than 10%.

The notes (Cusip: 4042K15A7) will price on Sept. 21 and settle on Sept. 28.

HSBC Securities (USA) Inc. is the agent. JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are placement agents.

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