By Angela McDaniels
Tacoma, Wash., April 25 - HSBC USA Inc. priced $8.59 million of 9.07% trigger yield optimization notes due April 30, 2012 linked to Canadian Natural Resources Ltd. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The face amount of each note is $46.62, which is equal to the initial share price of Canadian Natural.
The payout at maturity will be par unless the final price of Canadian Natural stock is less than 80% of the initial share price, in which case investors will receive one Canadian Natural share per note.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.
Issuer: | HSBC USA Inc.
|
Issue: | Trigger yield optimization notes
|
Underlying stock: | Canadian Natural Resources Ltd. (NYSE: CNQ)
|
Amount: | $8,590,667.40
|
Maturity: | April 30, 2012
|
Coupon: | 9.07%, payable monthly
|
Price: | Par of $46.62
|
Payout at maturity: | If final price of Canadian Natural Resources stock is less than trigger price, one Canadian Natural Resources share; otherwise, par
|
Initial share price: | $46.62
|
Trigger price: | $37.30, 80% of initial share price
|
Pricing date: | April 21
|
Settlement date: | April 29
|
Agents: | UBS Financial Services Inc. and HSBC Securities (USA) Inc.
|
Fees: | 2%
|
Cusip: | 40433C874
|
© 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.