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HSBC plans 95%-protected leveraged notes linked to currency basket
By Susanna Moon
Chicago, Sept. 16 – HSBC USA Inc. plans to price 0% leveraged participation notes due September 2015 linked to a basket of equally weighted currencies, according to a 424B2 filing with the Securities and Exchange Commission.
The underlying currencies are the Chinese renminbi, the Indian rupee, the Korean won and the Taiwanese dollar.
The payout at maturity will be par plus at least 1.7 times any basket gain.
If the basket falls, the payout will be par plus the return with a minimum payout of 95% of par.
HSBC Securities (USA) Inc. is the underwriter.
The notes will price and settle in September.
The Cusip number is 40433BNQ7.
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