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Prospect News home > News index > List of issuers H > Headlines for HSBC USA Inc. > News item |
HSBC plans 8.75%-10.75% trigger yield optimization notes tied to CSX
By Susanna Moon
Chicago, Dec. 1 - HSBC USA Inc. plans to price 8.75% to 10.75% trigger yield optimization notes due Dec. 7, 2012 linked to CSX Corp. shares, according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable monthly.
The face amount of each note will be equal to the initial price of CSX stock.
The payout at maturity will be par unless the final price of CSX stock is less than 70% of the initial share price, in which case investors will receive one CSX share per note.
HSBC Securities (USA) Inc. is the underwriter, and UBS Financial Services Inc. is the agent.
The notes will price on Dec. 2 and settle on Dec. 7.
The Cusip number is 40433K868.
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