HSBC plans to price return enhanced notes linked to dollar vs. euro

By Toni Weeks

San Luis Obispo, Calif., March 18 – HSBC USA Inc. plans to price 0% return enhanced notes due April 8, 2016 linked to the dollar relative to the euro, 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 262% of the currency return, subject to a maximum payout of $1,131 per $1,000 of notes. Investors will be exposed to any losses.

HSBC Securities (USA) Inc. is the underwriter. J.P. Morgan Securities LLC and JPMorgan Chase Bank, NA is the agent.

The notes (Cusip: 40433BJ25) will price March 20 and settle March 25.

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