By Jennifer Chiou
New York, Nov. 29 - HSBC USA Inc. priced $804,241 of 9.4% yield optimization notes with contingent protection due Nov. 30, 2012 linked to Allegheny Technologies Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
Each note has a face value of $51.64, which was the closing price of Allegheny stock at pricing.
The payout at maturity will be par unless the stock finishes at or below 70% of the initial share price, in which case the payout will be one share of Allegheny stock per note.
UBS Financial Services Inc. and HSBC USA Inc. are the agents.
Issuer: | HSBC USA Inc.
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Issue: | Yield optimization notes with contingent protection
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Underlying stock: | Allegheny Technologies Inc. (Symbol: ATI)
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Amount: | $804,241
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Maturity: | Nov. 30, 2012
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Coupon: | 9.4%, payable monthly
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Price: | Par of $51.64
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Payout at maturity: | If final share price is less than trigger price, one Allegheny share; otherwise, par
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Initial share price: | $51.64
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Trigger price: | $36.15, 70% of initial price
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Pricing date: | Nov. 24
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Settlement date: | Nov. 30
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Agents: | UBS Financial Services Inc. and HSBC USA Inc.
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Fees: | 2.75%
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Cusip: | 40432R385
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