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HSBC plans to price coupon opportunity notes linked to currency basket
By Angela McDaniels
Tacoma, Wash., May 6 - HSBC USA Inc. plans to price emerging currencies annual coupon opportunity notes due May 27, 2014 linked to the Turkish lira, Russian ruble, Indian rupee and Chinese renminbi, according to an FWP filing with the Securities and Exchange Commission.
Interest, if any, will be payable in May of each year. If each currency has appreciated relative to the U.S. dollar, investors will receive the digital coupon. Otherwise, no coupon will be paid. The digital coupon rate is expected to be 8% to 11% and will be set at pricing.
The payout maturity will be par.
The notes will price May 21 and settle May 26.
HSBC Securities (USA) Inc. is the agent.
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