HSBC plans 9.25%-12.25% yield optimization notes tied to Freeport-McMoRan via UBS

By Susanna Moon

Chicago, Feb. 16 - HSBC USA Inc. plans to price 9.25% to 12.25% yield optimization notes with contingent protection due Feb. 28, 2011 based on the common stock of Freeport-McMoRan Copper & Gold Inc., 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 Freeport-McMoRan stock at pricing.

Interest will be payable monthly.

If the final share price is less than 70% of the initial share price, the payout at maturity will be one Freeport-McMoRan share per note. Otherwise, the payout will be par.

The notes will price on Feb. 24 and settle on Feb. 26.

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