New Issue: HSBC prices $3.84 million CARS linked to real, rupee and renminbi

By Angela McDaniels

Tacoma, Wash., Nov. 18 - HSBC USA Inc. priced $3.84 million of 0% emerging markets Currency Accelerated Return Securities due Nov. 19, 2012 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 145% of any appreciation of the basket relative to the dollar.

Investors will be exposed to any basket depreciation, subject to a minimum payout of $900 per $1,000 principal amount of notes.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Emerging markets Currency Accelerated Return Securities
Underlying currencies:	Brazilian real, Indian rupee and Chinese renminbi, equally weighted
Amount:	$3,835,000
Maturity:	Nov. 19, 2012
Coupon:	0%
Price:	Par
Payout at maturity:	Par plus 145% of any basket gain relative to dollar; exposure to any basket decline, subject to maximum loss of 10%
Initial exchange rates:	1.7295 for real; 45.2200 for rupee; 6.6441 for renminbi
Pricing date:	Nov. 15
Settlement date:	Nov. 18
Agent:	HSBC Securities (USA) Inc.
Fees:	1.5%
Cusip:	4042K1AN3

© 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.