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HSBC plans 7.75%-10.25% trigger yield notes tied to Marvell Technology
By Susanna Moon
Chicago, Jan. 25 - HSBC USA Inc. plans to price 7.75% to 10.25% trigger yield optimization notes due Jan. 31, 2013 linked to Marvell Technology Group Ltd. shares, according to an FWP 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 Marvell Technology stock.
The payout at maturity will be par in cash unless the final price of Marvell Technology stock is less than 75% of the initial share price, in which case investors will receive one Marvell Technology share per note.
HSBC Securities (USA) Inc. is the underwriter, and UBS Financial Services Inc. is the agent.
The notes will price on Jan. 27 and settle on Jan. 31.
The Cusip number is 40433K546.
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