HSBC plans performance notes on real, ruble, rupee, rupiah, renminbi

By Jennifer Chiou

New York, May 6 - HSBC USA Inc. plans to price four-year performance notes linked to an emerging currency basket, according to an FWP with the Securities and Exchange Commission.

The underlying currencies are the Brazilian real, Russian ruble, Indian rupee, Indonesian rupiah and the Chinese renminbi, equally weighted against the dollar.

If the basket return is positive, the payout at maturity will be par plus the greater of a digital coupon rate of 14% to 18% and the basket gain. The exact rate will be set at pricing.

Otherwise, the payout will be par.

The notes will price on May 21 and settle on May 26.

HSBC Securities (USA) Inc. is the agent.

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