By Andrea Heisinger
New York, Aug. 8 - HSBC USA, Inc. priced $700 million one-year floating-rate notes Friday at par to yield three-month Libor plus 40 basis points on Friday, according to an FWP filing with the Securities and Exchange Commission.
The non-callable notes (Aa3/AA-/AA) will pay interest quarterly.
HSBC Securities (USA) Inc. was the bookrunner.
Proceeds will be used for general corporate purposes, including investments in and advances to subsidiaries including HSBC Bank USA, NA, financing future acquisitions of financial institutions as well as banking and other assets.
The financial services company is based in London.
| Issuer: | HSBC USA, Inc.
|
| Issue: | Senior unsecured floating-rate notes
|
| Amount: | $700 million
|
| Maturity: | Aug. 14, 2009
|
| Bookrunner: | HSBC Securities (USA) Inc.
|
| Coupon: | Three-month Libor plus 40 bps, payable quarterly
|
| Price: | Par
|
| Yield: | Three-month Libor plus 40 bps
|
| Call: | Non-callable
|
| Distribution: | SEC registered
|
| Trade date: | Aug. 8
|
| Settlement date: | Aug. 15
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA-
|
| Fitch: AA
|
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