By Angela McDaniels
Tacoma, Wash., Aug. 21 - HSBC USA Inc. priced $4.09 million of 7.1% trigger yield optimization notes due Aug. 22, 2014 linked to the common stock of JPMorgan Chase & Co., according to a 424B2 filing with the Securities and Exchange Commission.
The face amount of each note is $36.98, which is equal to the initial share price of JPMorgan stock.
Interest is payable monthly.
The payout at maturity will be par unless the final price of JPMorgan stock is less than 70% of the initial share price, in which case investors will receive one JPMorgan share per note.
HSBC Securities (USA) Inc. is the underwriter with UBS Financial Services Inc. as dealer.
Issuer: | HSBC USA Inc.
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Issue: | Trigger yield optimization notes
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Underlying stock: | JPMorgan Chase & Co. (NYSE: JPM)
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Amount: | $4,091,023.44
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Maturity: | Aug. 22, 2014
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Coupon: | 7.1%, payable monthly
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Price: | Par of $36.98
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Payout at maturity: | If final share price is less than trigger price, one JPMorgan share; otherwise, par
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Initial share price: | $36.98
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Trigger price: | $25.89, 70% of initial price
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Pricing date: | Aug. 17
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Settlement date: | Aug. 22
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Underwriter: | HSBC Securities (USA) Inc.
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Dealer: | UBS Financial Services Inc.
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Fees: | 2.75%
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Cusip: | 40433M237
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