By Jennifer Chiou
New York, March 31 - HSBC USA Inc. priced $4.36 million of 8.9% yield optimization notes with contingent protection due March 30, 2012 linked to the common stock of Deutsche Bank AG, according to a 424B2 filing with the Securities and Exchange Commission.
Each note priced at par of $78.63, which is equal to the closing price of Deutsche stock on the pricing date.
Interest is payable monthly.
If the final share price of Deutsche stock is greater than or equal to 75% of the initial price, the payout at maturity will be par. Otherwise, the payout will be one Deutsche share per note.
UBS Financial Services Inc. and HSBC USA Inc. are the underwriters.
| Issuer: | HSBC USA Inc.
|
| Issue: | Yield optimization notes with contingent protection
|
| Underlying stock: | Deutsche Bank AG (Symbol: DB)
|
| Amount: | $4,359,247.20
|
| Maturity: | March 30, 2012
|
| Coupon: | 8.9%, payable monthly
|
| Price: | Par of $78.63
|
| Payout at maturity: | If Deutsche shares finish below trigger price, one Deutsche share; otherwise, par
|
| Initial share price: | $78.63
|
| Trigger price: | $58.97, 75% of initial price
|
| Pricing date: | March 29
|
| Settlement date: | March 31
|
| Underwriters: | UBS Financial Services Inc. and HSBC USA Inc.
|
| Fees: | 2.75%
|
| Cusip: | 4042EP149
|
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