By Marisa Wong
Madison, Wis., Dec. 18 - HSBC USA Inc. priced $700,000 of 0% return enhanced notes due Dec. 30, 2013 linked to the deliverable Chinese renminbi relative to the dollar, according to an FWP filing with the Securities and Exchange Commission.
If the currency return is zero or positive, the payout at maturity will be par plus 500% of the currency return.
If the renminbi return is negative, investors will share in those losses.
The exchange rate is expressed as the number of deliverable Chinese renminbi per one dollar, for settlement on the same day.
HSBC Securities (USA) Inc. is the underwriter, and J.P. Morgan Securities LLC is the placement agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Return enhanced notes
|
| Underlying currency: | Deliverable Chinese renminbi
|
| Amount: | $700,000
|
| Maturity: | Dec. 30, 2013
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If currency return is zero or positive, par plus 500% of currency return; otherwise, investors will share fully in losses
|
| Initial spot rate: | 6.2209
|
| Pricing date: | Dec. 14
|
| Settlement date: | Dec. 21
|
| Underwriter: | HSBC Securities (USA) Inc. with J.P. Morgan Securities LLC as placement agent
|
| Fees: | 1.2%
|
| Cusip: | 40432X5J6
|
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