HSBC plans 8.25%-10.5% yield optimization notes tied to Intel via UBS

By Jennifer Chiou

New York, July 21 - HSBC USA Inc. plans to price yield optimization notes with contingent protection due Jan. 31, 2011 linked to the common stock of Intel Corp., according to an FWP filing with the Securities and Exchange Commission.

The six-month notes will carry an annualized coupon of 8.25% to 10.5%. Interest will be payable monthly.

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

The payout at maturity will be par unless the final share price is less than 80% of the initial share price, in which case the payout will be one share of Intel stock.

The notes (Cusip 40432R765) are expected to price on July 28 and settle July 30.

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.