By Marisa Wong
Madison, Wis., Dec. 17 - HSBC USA Inc. priced $5 million of 0% digital return notes due Jan. 21, 2014 linked to the deliverable Chinese renminbi relative to the dollar, according to a 424B2 filing with the Securities and Exchange Commission.
If the currency return is greater than zero, the payout will be par plus a digital return of 4.55%.
If the currency return is less than zero, the payout will be par plus the return, subject to a minimum payout of 98% of par.
HSBC Securities (USA) Inc. is the underwriter with J.P. Morgan Securities LLC as the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Digital return notes
|
| Underlying currency: | Deliverable Chinese renminbi
|
| Amount: | $5 million
|
| Maturity: | Jan. 21, 2014
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If currency return is positive, par plus 4.55%; otherwise, par plus return, with minimum payout of 98% of par
|
| Initial rate: | 6.2245
|
| Pricing date: | Dec. 13
|
| Settlement date: | Dec. 20
|
| Underwriter: | HSBC Securities (USA) Inc. with J.P. Morgan Securities LLC as agent
|
| Fees: | 0.65%
|
| Cusip: | 40432X5K3
|
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