HSBC Bank plans CDs linked to six-month Libor

By Jennifer Chiou

New York, March 5 - HSBC Bank USA NA plans to price certificates of deposit due March 20, 2028 linked to six-month Libor, according to a term sheet.

The CDs will pay a quarterly contingent coupon that will be fixed at 8.5% for the first year. After that, the interest rate will be reset quarterly and will accrue at 8.5% per year when six-month Libor is less than or equal to 6.5%.

There is a survivor put option.

The CDs will price on March 17.

InCapital LLC is the agent.

© 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.