By Andrea Heisinger
New York, Sept. 20 - HSBC USA Inc. sold $750 million of 5% 10-year subordinated notes late on Monday at a spread of 240 basis points over Treasuries, a market source away from the deal said.
The notes (A2/A+) priced at 99.178 to yield 5.106%. They are non-callable.
The bookrunner was HSBC Securities (USA) Inc.
Proceeds are being used for general corporate purposes including investments in and advancements to subsidiaries and financing future acquisitions of financial institutions.
The U.S. branch of financial services company HSBC is based in New York.
| Issuer: | HSBC USA Inc.
|
| Issue: | Subordinated notes
|
| Amount: | $750 million
|
| Maturity: | Sept. 27, 2020
|
| Bookrunner: | HSBC Securities (USA) Inc.
|
| Coupon: | 5%
|
| Price: | 99.178
|
| Yield: | 5.106%
|
| Spread: | Treasuries plus 240 bps
|
| Call: | Non-callable
|
| Trade date: | Sept. 20
|
| Settlement date: | Sept. 27
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A+
|
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