By Susanna Moon
Chicago, Nov. 17 - HSBC USA Inc. priced $6.09 million of 10.12% annualized yield optimization notes with contingent protection due Nov. 21, 2011 based on Baker Hughes Inc. shares, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable monthly.
Each note has a face value of $47.91, which was the closing price of Baker Hughes stock at pricing.
The payout at maturity will be par unless the stock finishes at or below 80% of the initial share price, in which case the payout will be one share of Baker Hughes stock per note.
UBS Financial Services Inc. and HSBC USA Inc. are the agents.
Issuer: | HSBC USA Inc.
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Issue: | Yield optimization notes with contingent protection
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Underlying stock: | Baker Hughes Inc. (Symbol: BHI)
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Amount: | $6,092,906.34
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Maturity: | Nov. 21, 2011
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Coupon: | 10.12%, payable monthly
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Price: | Par of $47.91
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Payout at maturity: | If final share price is less than trigger price, one Baker Hughes share; otherwise, par
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Initial share price: | $47.91
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Trigger price: | $38.33, or 80% of initial price
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Pricing date: | Nov. 15
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Settlement date: | Nov. 18
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Agents: | UBS Financial Services Inc. and HSBC USA Inc.
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Fees: | 1%
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Cusip: | 40432R427
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