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HSBC plans 8.5%-11% yield optimization notes linked to GE via UBS
By Susanna Moon
Chicago, May 20 - HSBC USA Inc. plans to price 8.5% to 11% yield optimization notes with contingent protection due May 31, 2011 based on the performance of General Electric Co. shares, 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 General Electric stock at pricing.
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 General Electric share per note. Otherwise, the payout will be par.
The notes will price on May 21 and settle on May 28.
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