HSBC USA plans to price one-year 0% notes tied to Asian currencies

By Marisa Wong

Madison, Wis., Jan. 4 - HSBC USA Inc. plans to price 0% notes due Jan. 10, 2012 based on the performance of four equally weighted currencies relative to the U.S. dollar, according to an FWP filing with the Securities and Exchange Commission.

The underlying currencies are the Indian rupee, the Indonesian rupiah, the Korean won and the Singapore dollar.

If the basket return is at least 3%, the payout at maturity will be 95% of par plus the greater of the basket return and 14.1%.

Otherwise, investors will receive 95% of par.

The notes (Cusip: 4042K1CE1) are expected to price on Jan. 7 and settle on Jan. 14.

HSBC Securities (USA) Inc. is the agent.

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