HSBC plans one-year knock-out buffer notes linked to Turkish lira

By Susanna Moon

Chicago, Sept. 5 - HSBC USA Inc. plans to price 0% knock-out buffer notes due Sept. 23, 2013 linked to the Turkish lira relative to the dollar, according to an FWP with the Securities and Exchange Commission.

If the currency falls by more than 15%, the payout at maturity will be par plus the currency return, with exposure to any losses.

Otherwise, the payout will be par plus any gain, with a contingent minimum return of at least 7.25%. The exact floor will be set at pricing.

HSBC Securities (USA) Inc. is the underwriter with J.P. Morgan Securities LLC as the agent.

The notes will price on Sept. 7 and settle on Sept. 14.

The Cusip number is 4042K14G5.

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