HSBC plans to price floating-rate notes linked to 10-year CMS rate

By Angela McDaniels

Tacoma, Wash., June 2 - HSBC USA Inc. plans to price floating-rate notes due June 18, 2024 linked to the 10-year Constant Maturity Swap rate, according to an FWP filing with the Securities and Exchange Commission.

The interest rates is 61.5% of the 10-year CMS rate, subject to a minimum coupon of 3% per year. Interest will be payable quarterly.

The payout at maturity will be par.

HSBC Securities (USA) Inc. is the underwriter.

The notes will price June 13 and settle June 18.

The Cusip number is 40433BEB0.

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