HSBC plans autocallable optimization notes tied to Apple stock via UBS

By Marisa Wong

Milwaukee, April 1 - HSBC USA Inc. plans to price 0% autocallable optimization securities with contingent protection due April 14, 2011 linked to the common stock of Apple Inc., according to an FWP filing with the Securities and Exchange Commission.

If the price of Apple stock closes above the initial share price on any of 12 monthly observation dates, the notes will be called and investors will receive par of $10 plus an annualized return of 16% to 20.5% that will be set at pricing.

If the notes are not called, the payout at maturity will be par if the final share price is at least 80% of the initial price. Otherwise, investors will receive par plus the share price return.

The notes are expected to price April 8 and settle April 13.

UBS Financial Services Inc. and HSBC USA Inc. are the agents.

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