HSBC plans 8.8%-10.8% trigger yield notes linked to Freeport-McMoRan

By Toni Weeks

San Diego, May 10 - HSBC USA Inc. plans to price 8.8% to 10.8% trigger yield optimization notes due May 18, 2012 linked to the common stock of Freeport-McMoRan Copper & Gold Inc., according to an FWP filing with the Securities and Exchange Commission.

Interest will be payable monthly. The exact coupon will be set at pricing.

The face amount of each note will be equal to the initial share price of Freeport-McMoRan stock.

The payout at maturity will be par unless the final price of Freeport-McMoRan stock is less than 75% of the initial share price, in which case investors will receive one Freeport-McMoRan share per note.

The notes (Cusip: 40433C817) are expected to price May 13 and settle May 18.

UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.

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