By Toni Weeks
San Diego, May 22 - HSBC USA Inc. priced $1.92 million of 11.9% trigger yield optimization notes due May 24, 2013 linked to the common stock of Baker Hughes Inc., according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
The face amount of each note will be equal to the initial price of Baker Hughes stock.
The payout at maturity will be par in cash unless the final price of Baker Hughes stock is less than 75% of the initial share price, in which case investors will receive one Baker Hughes share per note.
HSBC Securities (USA) Inc. is the underwriter, and UBS Financial Services Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Trigger yield optimization notes
|
| Underlying stock: | Baker Hughes Inc. (Symbol: BHI)
|
| Amount: | $1,916,382
|
| Maturity: | May 24, 2013
|
| Coupon: | 11.9%, payable monthly
|
| Price: | Par of $40.43
|
| Payout at maturity: | If final share price is less than trigger price, one Baker Hughes share; otherwise, par
|
| Initial share price: | $40.43
|
| Trigger price: | $30.32, 75% of initial price
|
| Pricing date: | May 18
|
| Settlement date: | May 24
|
| Underwriter: | HSBC Securities (USA) Inc. with UBS Financial Services Inc. as agent
|
| Fees: | 2%
|
| Cusip: | 40433M765
|
© 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.
