New Issue: HSBC prices $1.1 million leveraged participation notes linked to Asian currencies

By Susanna Moon

Chicago, Sept. 29 – HSBC USA Inc. priced $1.1 million of 0% leveraged participation securities due Oct. 2, 2015 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 deliverable Chinese renminbi, the Indian rupee, the Korean won and the Taiwanese dollar.

The payout at maturity will be par plus 185% of any basket gain.

If the basket falls, the payout will be 95% of par.

HSBC Securities (USA) Inc. is the underwriter.

Issuer:	HSBC USA Inc.
Issue:	Leveraged participation securities
Underlying basket:	Chinese renminbi, the Indian rupee, the Korean won and the Taiwanese dollar, equally weighted versus the U.S. dollar
Amount:	$1.1 million
Maturity:	Oct. 2, 2015
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 185% of any index gain; if basket falls, 95% of par
Initial levels:	6.1447 for renminbi, 61.0245 for rupee, 1,042.6 for Korean won and 30.28 for Taiwanese dollar
Pricing date:	Sept. 25
Settlement date:	Oct. 2
Agent:	HSBC Securities (USA) Inc.
Fees:	1%
Cusip:	40433BNQ7

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.