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HSBC plans return enhanced notes due 2014 linked to Chinese renminbi
By Susanna Moon
Chicago, Jan. 9 - HSBC USA Inc. plans to price 0% return enhanced notes due Jan. 28, 2014 linked to the deliverable Chinese renminbi relative to the dollar, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 500% of any currency gain.
Investors will be exposed to any losses.
The exchange rate is expressed as the number of deliverable Chinese renminbi per one dollar, for settlement on the same day.
HSBC Securities (USA) Inc. will be the underwriter with J.P. Morgan Securities LLC as placement agent.
The notes will price on Jan. 11 and settle on Jan. 18.
The Cusip number is 40432X7C9.
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