New Issue: HSBC prices $8.44 million notes linked to BRIC currencies via JPMorgan

By Susanna Moon

Chicago, July 12 - HSBC USA Inc. priced $8.44 million of 0% notes due Jan. 11, 2013 linked to the performance of a basket of currencies relative to the dollar, according to a 424B2 filing with the Securities and Exchange Commission.

The basket includes equal weights of the Brazilian real, the Russian ruble, the Indian rupee and the Chinese renminbi.

The payout at maturity will be par plus 1.7 times any basket gain. Investors will be exposed to any losses, subject to a minimum payout of $950 per $1,000 principal amount of notes.

J.P. Morgan Securities LLC is the agent.

Issuer:	HSBC USA Inc.
Issue:	Notes
Underlying currencies:	Brazilian real, Russian ruble, Indian rupee and Chinese renminbi, equally weighted
Amount:	$8.44 million
Maturity:	Jan. 11, 2013
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 170% of any basket gain against dollar; exposure to losses, subject to floor of 95% of par
Initial spot rates:	1.5634 for real, 27.9240 for ruble, 44.3263 for rupee and 6.4705 for renminbi
Pricing date:	July 8
Settlement date:	July 13
Agent:	J.P. Morgan Securities LLC
Fees:	1.25%
Cusip:	4042K1KK8

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