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HSBC plans 8.65%-10.65% yield optimization notes tied to Wynn Resorts
By Marisa Wong
Madison, Wis., Sept. 21 - HSBC USA Inc. plans to price 8.65% to 10.65% yield optimization notes with contingent protection due Sept. 28, 2012 linked to the common stock of Wynn Resorts, Ltd., according to an FWP filing with the Securities and Exchange Commission.
The face value of each note will be equal to the closing price of Wynn stock on the pricing date.
Interest is payable monthly.
The payout at maturity will be par unless the final price of Wynn stock is less than 70% of the initial share price, in which case the payout will be one share of Wynn stock per note.
The notes (Cusip: 40432R559) will price Sept. 28 and settle Sept. 30.
UBS Financial Services Inc. is the agent.
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