HSBC to price knock-out buffer notes linked to three currencies

By Susanna Moon

Chicago, April 11 - HSBC USA Inc. plans to price 0% knock-out buffer notes due Oct. 21, 2014 linked to a basket of equally weighted currencies relative to the dollar, according to an FWP filing with the Securities and Exchange Commission.

The underlying currencies are the Brazilian real, the Chilean peso and the Mexican peso.

A knock-out event occurs if the basket finishes below the 85% trigger level.

If a knock-out event never occurs, the payout will be par plus the greater of the basket return and a contingent minimum return of 9.1%.

Otherwise, investors will be fully exposed to any losses.

HSBC Securities (USA) Inc. is the underwriter with J.P. Morgan Securities LLC as dealer

The notes will price on April 12 and settle on April 19.

The Cusip number is 40432XEB3.

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