HSBC plans 8.65%-10.65% yield optimization notes on Bank of America

By Susanna Moon

Chicago, Sept. 22 - HSBC USA Inc. plans to price 8.65% to 10.65% yield optimization notes with contingent protection due Sept. 30, 2011 based on the common stock of Bank of America Corp., according to an FWP filing with the Securities and Exchange Commission.

UBS Financial Services Inc. and HSBC USA Inc. are the agents.

The face value of each note will be equal to the closing price of Bank of America stock on the pricing date.

Interest is payable monthly.

The payout at maturity will be par unless the final price of Bank of America stock is less than 75% of the initial share price, in which case the payout will be one share of Bank of America stock per note.

The notes (Cusip 40432R542) will price on Sept. 23 and settle on Sept. 30.

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