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HSBC plans 8%-10% trigger yield optimization notes tied to Arch Coal
By Susanna Moon
Chicago, June 2 - HSBC USA Inc. plans to price 8% to 10% trigger yield optimization notes due June 7, 2012 linked to Arch Coal Inc. shares, according to an FWP with the Securities and Exchange Commission.
Interest will be payable monthly.
The face amount of each note will be equal to the initial share price of Arch Coal.
The payout at maturity will be par unless the final price of Arch Coal stock is less than 75% of the initial share price, in which case investors will receive one Arch Coal share per note.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the agents.
The notes will price on June 3 and settle on June 8.
The Cusip is 40433C767.
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