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HSBC plans 9.25%-11.75% yield optimization notes tied to Hewlett-Packard
By Angela McDaniels
Tacoma, Wash., July 6 - HSBC USA Inc. plans to price yield optimization notes with contingent protection due Jan. 21, 2011 linked to the common stock of Hewlett-Packard Co., according to an FWP filing with the Securities and Exchange Commission.
The six-month notes will carry an annualized coupon of 9.25% to 11.75%. Interest will be payable monthly.
The principal amount of each note will be equal to the closing stock price of Hewlett-Packard on the pricing date.
The payout at maturity will be par unless the final share price is less than 80% of the initial share price, in which case the payout will be one share of Hewlett-Packard stock.
The notes are expected to price July 16 and settle July 21.
UBS Financial Services Inc. is the agent.
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