By Sheri Kasprzak
New York, Dec. 11 - HSBC USA Inc. has sold an additional $325 million of its 3.125% senior unsecured notes backed by the Federal Deposit Insurance Corp.'s Temporary Liquidity Guarantee Program, according to a term sheet released Thursday.
The three-year non-callable notes (Aaa/AAA/AAA) priced at 100.011 to yield 3.121%, or Treasuries plus 197.5 basis points.
The bookrunner for the sale was HSBC Securities (USA) Inc.
The bank sold $2 billion of the SEC-registered notes on Tuesday.
Proceeds will be used for general corporate purposes, including potential acquisitions of financial institutions.
The financial services company is based in London.
| Issuer: | HSBC USA Inc.
|
| Guarantor: | Federal Deposit Insurance Corp.
|
| Issue: | FDIC-backed senior unsecured notes
|
| Amount: | $325 million reopened
|
| Maturity: | Dec. 16, 2011
|
| Bookrunner: | HSBC Securities (USA) Inc.
|
| Coupon: | 3.125%
|
| Price: | 100.011
|
| Yield: | 3.121%
|
| Spread: | Treasuries plus 197.5 bps
|
| Call: | Non-callable
|
| Trade date: | Dec. 10
|
| Settlement date: | Dec. 16
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
| Total amount: | $2.325 billion, including $2 billion sold on Dec. 9.
|
© 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.
