HSBC plans leveraged contingent barrier notes tied to peso vs. euro

By Susanna Moon

Chicago, March 12 – HSBC USA Inc. plans to price 0% leveraged contingent barrier enhanced notes due March 20, 2017 linked to the Mexican peso relative to the euro, according to an FWP filing with the Securities and Exchange Commission.

If the currency return is at least 80% of the initial level, the payout at maturity will be par plus 5 times the return, up to a maximum return of 52.5% and a minimum payment of par.

Otherwise, investors will be fully exposed to any losses.

HSBC Securities (USA) Inc. is the underwriter with J.P. Morgan Securities LLC as agent.

The notes will price on March 13 and settle on March 18.

The Cusip number is 40433BH68.

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