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HSBC to sell 10%-12% yield optimization notes on Goldcorp via UBS
By Susanna Moon
Chicago, Sept. 18 - HSBC USA Inc. plans to price 10% to 12% yield optimization notes with contingent protection due Sept. 30, 2011 linked to the common stock of Goldcorp Inc., according to an FWP filing with the Securities and Exchange Commission.
UBS Financial Services Inc. and HSBC USA Inc. are the underwriters.
The face amount of each note will be equal to the stock's closing price on the pricing date.
The coupon will be payable quarterly, with the exact amount to be set at pricing.
If the stock finishes at or above the trigger price - 70% of the initial price - the payout at maturity will be par.
Otherwise, the payout will be one share of Goldcorp stock.
The notes are expected to price on Sept. 28 and settle on Sept. 30.
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