HSBC plans to price two-year CARS linked to real, rupee and renminbi

By Marisa Wong

Madison, Wis., Jan. 6 - HSBC USA Inc. plans to price 0% emerging markets Currency Accelerated Return Securities due Jan. 31, 2013 linked to equal weights of the Brazilian real, Indian rupee and Chinese renminbi, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 140% to 170% of any basket appreciation relative to the 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: 4042K1CG6) will price Jan. 26 and settle Jan. 31.

HSBC Securities (USA) Inc. is the agent.

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