New Issue: HSBC sells $600,000 95% protected notes linked to three currencies via JPMorgan

By Jennifer Chiou

New York, Nov. 18 - HSBC USA Inc. priced $600,000 of zero-coupon 95% principal-protected notes due Nov. 21, 2011 linked to the performance of a basket of equally weighted currencies relative to the U.S. dollar, according to a 424B2 filing with the Securities and Exchange Commission.

J.P. Morgan Securities Inc. is the agent.

The underlying currencies are the South Korean won, Indonesian rupiah and Singapore dollar.

The payout at maturity will be $950 plus 170% of any basket gain, up to a maximum payout of $1,120 per note.

Investors will receive at least $950.

Issuer:	HSBC USA Inc.
Issue:	95% principal-protected notes
Underlying currencies:	South Korean won, Indonesian rupiah and Singapore dollar, equally weighted
Amount:	$600,000
Maturity:	Nov. 21, 2011
Coupon:	0%
Price:	Par
Payout at maturity:	$950 plus 170% of any basket gain, capped at $1,120 per note; floor of 95% of par
Initial spot rates:	1,154.90 for the won, 9,390 for the rupiah, 1.3849 for the Singapore dollar
Pricing date:	Nov. 16
Settlement date:	Nov. 20
Agent:	J.P. Morgan Securities Inc.
Fees:	1.5%

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.