By Marisa Wong
Madison, Wis., Feb. 14 - HSBC USA Inc. priced $3.61 million of 8% trigger yield optimization notes due Feb. 16, 2012 linked to the common stock of Bank of America Corp., according to a 424B2 filing with the Securities and Exchange Commission.
Each note has a face amount of $14.49, which is equal to the initial share price of Bank of America stock.
Interest is payable monthly.
The payout at maturity will be par unless the final share price is less than 75% of the initial share price, in which case the payout will be one Bank of America share per note.
UBS Financial Services Inc. and HSBC USA Inc. are the agents.
Issuer: | HSBC USA Inc.
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Issue: | Trigger yield optimization notes
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Underlying stock: | Bank of America Corp. (NYSE: BAC)
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Amount: | $3,609,850.23
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Maturity: | Feb. 16, 2012
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Coupon: | 8%, payable monthly
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Price: | Par of $14.49
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Payout at maturity: | If final share price is less than trigger price, one Bank of America share; otherwise, par
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Initial share price: | $14.49
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Trigger price: | $10.87, 75% of initial price
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Pricing date: | Feb. 10
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Settlement date: | Feb. 15
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Agents: | UBS Financial Services Inc. and HSBC USA Inc.
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Fees: | 1.8%
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Cusip: | 40432R161
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