By Andrea Heisinger
New York, Aug. 11 - HSBC USA Inc. priced $250 million two-year floating-rate notes Monday at par to yield three-month Libor plus 100 basis points, according to an FWP filing with the Securities and Exchange Commission.
The notes (Aa3/AA-/AA) have interest paid quarterly.
HSBC Securities (USA) Inc. was the bookrunner.
Proceeds will be used for general corporate purposes, including investment in and advances to subsidiaries including HSBC Bank, 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: | $250 million
|
| Maturity: | Aug. 13, 2010
|
| Bookrunner: | HSBC Securities (USA) Inc.
|
| Coupon: | Three-month Libor plus 100 bps
|
| Price: | Par
|
| Yield: | Three-month Libor plus 100 bps
|
| Trade date: | Aug. 11
|
| Settlement date: | Aug. 15
|
| Ratings: | Moody's: Aa3
|
| Standard & Poor's: AA-
|
| Fitch: AA
|
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