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Prospect News home > News index > List of issuers H > Headlines for HSBC USA Inc. > News item |
HSBC plans 8.3%-10.8% trigger yield optimization notes tied to Nabors
By Susanna Moon
Chicago, Jan. 25 - HSBC USA Inc. plans to price 8.3% to 10.8% trigger yield optimization notes due Jan. 31, 2013 linked to Nabors Industries 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 Nabors stock.
The payout at maturity will be par in cash unless the final price of Nabors stock is less than 65% of the initial share price, in which case investors will receive one Nabors 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 40433K561.
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