HSBC plans to price two-year CARS linked to four Asian currencies

By Jennifer Chiou

New York, April 6 - HSBC USA Inc. plans to price 0% Asian Currency Accelerated Return Securities due May 1, 2013 linked to a basket of currencies, according to an FWP with the Securities and Exchange Commission.

The basket includes equal weights of the Philippine peso, Malaysian ringgit, Indonesian rupiah and Singapore dollar.

The payout at maturity will be par plus 120% to 150% of any basket appreciation relative to the U.S. dollar. The exact participation rate will be set at pricing.

Investors will be exposed to any basket depreciation, subject to a minimum payout of $900 per $1,000 principal amount of notes.

The notes (Cusip: 4042K1GD9) will price on April 25 and settle on April 29.

HSBC Securities (USA) Inc. is the agent.

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