By Angela McDaniels
Tacoma, Wash., June 30 - HSBC USA Inc. priced $3.97 million of 11.52% yield optimization notes with contingent protection due June 29, 2012 linked to the common stock of United States Steel Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Each note priced at par of $41.55, which is equal to the closing price of United States Steel stock on the pricing date.
Interest is payable monthly.
If the final share price of United States Steel stock is greater than or equal to 70% of the initial price, the payout at maturity will be par. Otherwise, the payout will be one United States Steel 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: | United States Steel Corp. (Symbol: X)
|
| Amount: | $3,974,423.70
|
| Maturity: | June 29, 2012
|
| Coupon: | 11.52%, payable monthly
|
| Price: | Par of $41.55
|
| Payout at maturity: | If United States Steel shares finish below trigger price, one United States Steel share; otherwise, par
|
| Initial share price: | $41.55
|
| Trigger price: | $29.08, 70% of initial price
|
| Pricing date: | June 28
|
| Settlement date: | June 30
|
| Underwriters: | UBS Financial Services Inc. and HSBC USA Inc.
|
| Fees: | 2.75%
|
| Cusip: | 40432R823
|
© 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.
