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HSBC plans 8.3%-10.8% trigger yield optimization notes on Baker Hughes
By Susanna Moon
Chicago, May 16 - HSBC USA Inc. plans to price 8.3% to 10.8% trigger yield optimization notes due May 24, 2013 linked to Baker Hughes Inc. 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 Baker Hughes 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 Baker Hughes share per note.
UBS Financial Services Inc. and HSBC Securities (USA) Inc. are the underwriters.
The notes will price on May 18 and settle on May 24.
The Cusip number is 40433M765.
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