HSBC to price 0.75%-1.25% renminbi-denominated fixed-rate income notes

By Toni Weeks

San Diego, May 20 - HSBC USA Inc. plans to price 0.75% to 1.25% renminbi-denominated income notes due June 21, 2016, according to an FWP filing with the Securities and Exchange Commission.

The securities are renminbi-denominated, but all interest payments and the payout at maturity will be made in dollars.

The exact interest rate will be determined at pricing. Interest is payable semiannually.

The payout at maturity will be par.

The notes (Cusip: 40433CAA4) are expected to price June 7 and settle June 21.

HSBC Securities (USA) Inc. will act as agent.

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