HSBC plans partial principal at risk notes linked to Chinese renminbi

By Susanna Moon

Chicago, Sept. 12 - HSBC USA Inc. plans to price 0% currency-linked partial principal at risk securities due Oct. 2, 2014 linked to the Chinese renminbi relative to the dollar, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 200% to 250% of any currency gain. The exact deal terms will be set at pricing.

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 handling distribution.

The notes will price on Sept. 28 and settle on Oct. 2.

The Cusip number is 4042K14X8.

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