By Jennifer Chiou
New York, April 21 - HSBC USA Inc. priced $3 million of 100% principal-protected notes due April 22, 2014 linked to a basket of equally weighted currencies relative to the dollar, according to a 424B2 filing with the Securities and Exchange Commission.
The underlying currencies are the Brazilian real, Indonesian rupiah and the Thai baht.
If the basket return is positive, the payout at maturity will be par plus the greater of a digital coupon rate of 20% and the basket gain.
Otherwise, the payout will be par.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | 100% principal-protected notes
|
| Underlying currencies: | Brazilian real, Indonesian rupiah and the Thai baht, equally weighted against the dollar
|
| Amount: | $3 million
|
| Maturity: | April 22, 2014
|
| Coupon: | Digital coupon of 20% contingent on basket return
|
| Price: | Par
|
| Payout at maturity: | If basket return is positive, par plus the greater of any basket gain or 20%; floor of par
|
| Initial spot rates: | 1.7584 for real; 9,046 for rupiah and 32.355 for baht
|
| Pricing date: | April 19
|
| Settlement date: | April 27
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 1.5%
|
| Cusip: | 4042K0W35
|
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