By Toni Weeks
San Diego, June 24 - HSBC USA Inc. priced another $1.55 million of callable step-up fixed-rate notes due June 30, 2023, according to a 424B2 filing with the Securities and Exchange Commission.
This brings the total deal size to $10.22 million. The original $4.49 million of notes priced on June 14, and an additional $4.18 million of notes priced on June 17.
The coupon is 4% for the first four years. It will step up to 4.5% on June 30, 2015 and to 5% on June 30, 2019. Interest is payable quarterly.
The payout at maturity will be par.
The notes will be callable at par on June 30, 2015 and June 30, 2019.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Callable step-up fixed-rate notes
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Amount: | $10.22 million (upsized from original $4.49 million)
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Maturity: | June 30, 2023
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Coupon: | 4% initially, steps up to 4.5% on June 30, 2015 and to 5% on June 30, 2019, payable quarterly
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Price: | Variable
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Payout at maturity: | Par
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Call option: | At par on June 30, 2015 and June 30, 2019
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Pricing date: | June 14
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Upsize dates: | June 17, June 22
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Settlement date: | June 30
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 2.033%
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Cusip: | 4042K1JY0
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