Published on 6/8/2011 in the Prospect News Emerging Markets Daily and Prospect News Structured Products Daily.
New Issue: HSBC sells RMB 76.51 million five-year 0.9% renminbi income notes
By Susanna Moon
Chicago, June 8 - HSBC USA Inc. priced RMB 76.51 million of 0.9% Chinese renminbi-denominated notes due June 21, 2016, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are denominated in renminbi, but all payments will be made in dollars. The spot rate on the pricing date was 6.4816.
Interest is payable semiannually.
The payout at maturity will be par plus the final coupon.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Renminbi income notes
|
| Amount: | RMB 76.51 million ($11,804,184.15)
|
| Maturity: | June 21, 2016
|
| Coupon: | 0.9%, payable semiannually
|
| Price: | Par of RMB 10,000 ($1,535.91)
|
| Payout at maturity: | Par plus final coupon, payable in dollars
|
| Pricing date: | June 7
|
| Settlement date: | June 21
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 1%
|
| Cusip: | 40433CAA4
|
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