By Jennifer Chiou
New York, Sept. 13 - HSBC USA Inc. priced $2 million of 9.22% yield optimization notes with contingent protection due Sept. 14, 2012 linked to the common stock of Dow Chemical Co., according to a 424B2 filing with the Securities and Exchange Commission.
Each note has a face value of $25.69, which is the closing price of Dow Chemical stock at pricing.
Interest is payable monthly.
The payout at maturity will be par unless the final price of Dow Chemical stock is less than 75% of the initial share price, in which case the payout will be one share of Dow Chemical 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: | Dow Chemical Co. (Symbol: DOW)
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Amount: | $1,999,992.19
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Maturity: | Sept. 14, 2012
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Coupon: | 9.22%, payable monthly
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Price: | Par of $25.69
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Payout at maturity: | If final share price is less than trigger price, one Dow Chemical share; otherwise, par
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Initial share price: | $25.69
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Trigger price: | $19.27, 75% of initial price
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Pricing date: | Sept. 9
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Settlement date: | Sept. 14
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Underwriters: | UBS Financial Services Inc. and HSBC USA Inc.
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Fees: | 2.75%
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Cusip: | 40432R617
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