By Marisa Wong
Madison, Wis., Feb. 16 - HSBC USA Inc. priced $8.02 million of 8.76% trigger yield optimization notes due Aug. 19, 2011 linked to the common stock of Canadian Natural Resources Ltd., according to a 424B2 filing with the Securities and Exchange Commission.
Each note has a face amount of $44.88, which is equal to the initial share price of Canadian Natural Resources stock.
Interest is payable monthly.
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 Canadian Natural Resources share per note.
UBS Financial Services Inc. and HSBC USA Inc. are the agents.
| Issuer: | HSBC USA Inc.
|
| Issue: | Trigger yield optimization notes
|
| Underlying stock: | Canadian Natural Resources Ltd.
|
| Amount: | $8,020,280.40
|
| Maturity: | Aug. 19, 2011
|
| Coupon: | 8.76%, payable monthly
|
| Price: | Par of $44.88
|
| Payout at maturity: | If final share price is less than trigger price, one Canadian Natural Resources share; otherwise, par
|
| Initial share price: | $44.88
|
| Trigger price: | $35.90, 80% of initial price
|
| Pricing date: | Feb. 14
|
| Settlement date: | Feb. 17
|
| Agents: | UBS Financial Services Inc. and HSBC USA Inc.
|
| Fees: | 1%
|
| Cusip: | 40432R179
|
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