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HSBC plans 8%-10% trigger yield notes linked to Occidental Petroleum
By Susanna Moon
Chicago, May 23 - HSBC USA Inc. plans to price 8% to 10% trigger yield optimization notes due May 31, 2013 linked to Occidental Petroleum Corp. shares, according to an FWP filing with the Securities and Exchange Commission.
The face amount of each note will equal the initial share price of Occidental Petroleum stock.
Interest is payable monthly.
The payout at maturity will be par unless the stock finishes below the 75% trigger level, in which case investors will receive one Occidental Petroleum share per note.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the underwriters.
The notes will price on May 29 and settle on May 31.
The Cusip number is 40433M666.
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