By Jennifer Chiou
New York, Oct. 1 - HSBC USA Inc. priced $2.37 million of 0% currency-linked partial principal at risk securities due Oct. 2, 2014 tied to the Chinese renminbi relative to the dollar, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par plus 220% of any currency gain.
If the currency falls, investors will receive par plus the return, with a minimum payout of $900 per $1,000 of notes.
HSBC Securities (USA) Inc. is the agent with Morgan Stanley Smith Barney LLC as distributor.
| Issuer: | HSBC USA Inc.
|
| Issue: | Currency-linked partial principal at risk securities
|
| Underlying currency: | Chinese renminbi relative to the dollar
|
| Amount: | $2.37 million
|
| Maturity: | Oct. 2, 2014
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | Par plus 220% of any currency gain; exposure to up to 10% of declines
|
| Initial rate: | 6.341
|
| Pricing date: | Sept. 28
|
| Settlement date: | Oct. 2
|
| Agent: | HSBC Securities (USA) Inc. with Morgan Stanley Smith Barney LLC as distributor
|
| Fees: | 1.75%
|
| Cusip: | 4042K14X8
|
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