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Prospect News home > News index > List of issuers H > Headlines for HSBC USA Inc. > News item |
HSBC plans 5.75%-7.25% trigger yield notes linked to Occidental Petroleum
By Susanna Moon
Chicago, Sept. 20 - HSBC USA Inc. plans to price 5.75% to 7.25% trigger yield optimization notes due Sept. 29, 2014 linked to the common stock of Occidental Petroleum Corp., 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 Occidental Petroleum stock.
The payout at maturity will be par unless the final price of Occidental Petroleum stock is less than 70% of the initial share price, in which case investors will receive one Occidental Petroleum share per note.
HSBC Securities (USA) Inc. is the underwriter, and UBS Financial Services Inc. is the agent.
The notes will price on Sept. 21 and settle on Sept. 28.
The Cusip number is 40433M138.
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