HSBC to sell 7%-9.5% yield optimization notes on Union Pacific via UBS

By Jennifer Chiou

New York, Aug. 7 - HSBC USA Inc. plans to price 7% to 9.5% annualized yield optimization notes due Feb. 19, 2010 linked to the common stock of Union Pacific Corp., 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.

Interest will be payable quarterly. The exact coupon will be set at pricing.

If the stock finishes at or above the trigger price - 75% of the initial price - the payout at maturity will be par. Otherwise, the payout will be one share of Union Pacific stock.

The notes are expected to price on Aug. 14 and settle on Aug. 19.

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