HSBC plans to price one-year notes on four currencies vs. U.S. dollar

By Jennifer Chiou

New York, Nov. 23 - HSBC USA Inc. plans to price notes due Dec. 5, 2011 linked to the performance of four currencies relative to the U.S. dollar, according to an FWP with the Securities and Exchange Commission.

The basket includes equal weights of the Indian rupee, Indonesian rupiah, Korean won and Singapore dollar.

The payout at maturity will be 95% of par plus the additional amount. If the basket return is less than 3%, the additional amount will be zero. If the return is greater than 3% but less than 15%, the additional amount will be 15%. Investors will share in any gains beyond 15%. They will receive at least 95% of par.

The notes (Cusip: 4042K1AT0) will price on Nov. 30 and settle on Dec. 7.

HSBC Securities (USA) Inc. is the agent.

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