By Susanna Moon
Chicago, Nov. 17 - HSBC USA Inc. priced $6.09 million of 10.12% annualized yield optimization notes with contingent protection due Nov. 21, 2011 based on Baker Hughes Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
Each note has a face value of $47.91, which was the closing price of Baker Hughes stock at pricing.
The payout at maturity will be par unless the stock finishes at or below 80% of the initial share price, in which case the payout will be one share of Baker Hughes stock per note.
UBS Financial Services Inc. and HSBC USA Inc. are the agents.
| Issuer: | HSBC USA Inc.
|
| Issue: | Yield optimization notes with contingent protection
|
| Underlying stock: | Baker Hughes Inc. (Symbol: BHI)
|
| Amount: | $6,092,906.34
|
| Maturity: | Nov. 21, 2011
|
| Coupon: | 10.12%, payable monthly
|
| Price: | Par of $47.91
|
| Payout at maturity: | If final share price is less than trigger price, one Baker Hughes share; otherwise, par
|
| Initial share price: | $47.91
|
| Trigger price: | $38.33, or 80% of initial price
|
| Pricing date: | Nov. 15
|
| Settlement date: | Nov. 18
|
| Agents: | UBS Financial Services Inc. and HSBC USA Inc.
|
| Fees: | 1%
|
| Cusip: | 40432R427
|
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