HSBC tweaks maturity date of performance notes tied to five currencies

By Toni Weeks

San Diego, July 1 - HSBC USA Inc. extended the maturity date for its planned offer of 0% performance securities linked to a basket of five currencies to July 23, 2012 from July 20, 2012, according to an FWP filing with the Securities and Exchange Commission.

As previously reported, the equally weighted basket components, all relative to the dollar, are the Australian dollar, the Canadian dollar, the Norwegian krone, the Swedish krona and the Swiss franc.

The payout at maturity will be par plus the basket return times a participation rate that is expected to be 130% to 160%. The exact participation rate will be set at pricing.

Investors will be fully exposed to losses.

The notes (Cusip: 40433C692) will price July 15 and settle July 20.

UBS Financial Services Inc. and HSBC Securities (USA) Inc. is the agent.

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