HONG KONG, Sept 10 (Reuters) - Sportswear retailer Peak Sport Products Co plans to raise up to $246 million in a Hong Kong initial public offering to fund marketing, according to a term sheet.

www.peaksport.com

Peak Sport plans to sell 419.58 million new shares at a range of HK$3.55-HK$4.55 each.

The retailer has a greenshoe option to sell 62.94 million more shares, which could bring the IPO size to $283 million.

Pricing of the IPO is expected on Sept 22 in Hong Kong and on Sept 21 in the U.S.

Trading in the shares is scheduled to start on Sept 29.

Credit Suisse is the sole arranger of the deal.

(Reporting by Leonora Walet; Editing by Jonathan Hopfner)