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HSBC plans trigger autocallable optimization securities on SanDisk
By Jennifer Chiou
New York, Jan. 20 - HSBC USA Inc. plans to price 0% trigger autocallable optimization securities due Jan. 27, 2012 linked to the common stock of SanDisk Corp., according to an FWP with the Securities and Exchange Commission.
The notes will be automatically called at par of $10 plus an annualized call return of 23% to 27% if SanDisk shares close at or above the initial share price on any of 12 monthly observation dates. The exact call return will be set at pricing.
If the notes are not called and the final share price is greater than or equal to 65% of the initial share price, the payout at maturity will be par. Otherwise, the payout will be par plus the stock return.
The notes (Cusip: 40432R252) are expected to price on Jan. 21 and settle on Jan. 26.
UBS Financial Services Inc. and HSBC USA Inc. are the underwriters.
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