HSBC plans 8.6%-10.6% yield optimization notes due 2011 linked to Bank of America via UBS

By E. Janene Geiss

Philadelphia, Nov. 17 - HSBC USA Inc. plans to price 8.6% to 10.6% yield optimization notes with contingent protection due Nov. 30, 2011 linked to the common stock of Bank of America Corp., according to an FWP filing with the Securities and Exchange Commission.

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

The face amount of each note will be equal to the closing price of Bank of America stock on the pricing date.

Interest will be payable monthly.

If the final share price is less than 65% of the initial share price, the payout at maturity will be one Bank of America share per note. Otherwise, the payout will be par.

The notes will price on Nov. 25 and settle on Nov. 30.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.