HSBC plans 7.5%-9.5% yield optimization notes tied to Alcoa via UBS

By Jennifer Chiou

New York, March 18 - HSBC USA Inc. plans to price 7.5% to 9.5% yield optimization notes with contingent protection due March 30, 2012 linked to the common stock of Alcoa, 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 Alcoa stock at pricing.

Interest will be payable monthly.

If the final share price is less than 75% of the initial share price, the payout at maturity will be one Alcoa share per note. Otherwise, the payout will be par.

The notes will price on March 29 and settle on March 31.

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