HSBC plans 7.5%-9.5% yield optimization notes tied to JPMorgan via UBS

By Angela McDaniels

Tacoma, Wash., Oct. 21 - HSBC USA Inc. plans to price 7.5% to 9.5% yield optimization notes with contingent protection due Oct. 31, 2011 linked to the common stock of JPMorgan Chase & Co., according to an FWP filing with the Securities and Exchange Commission.

UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.

The face amount of each note will be equal to the closing price of JPMorgan stock on the pricing date.

Interest will be payable monthly.

If the final share price is less than 75% of the initial share price, the payout at maturity will be one JPMorgan share per note. Otherwise, the payout will be par.

The notes will price Oct. 28 and settle Oct. 30.

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