New Issue: HSBC prices $1.62 million more callable step-up notes due 2023 with 4% initial rate

By Marisa Wong

Madison, Wis., June 29 - HSBC USA Inc. priced another $1,615,000 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 $11.84 million. The original $4.49 million of notes priced on June 14, and an additional $4.18 million and $1.55 million of notes priced on June 17 and June 22, respectively.

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.
Issue:	Callable step-up fixed-rate notes
Amount:	$11,835,000 (upsized from original $4.49 million)
Maturity:	June 30, 2023
Coupon:	4% initially, steps up to 4.5% on June 30, 2015 and to 5% on June 30, 2019, payable quarterly
Price:	Variable
Payout at maturity:	Par
Call option:	At par on June 30, 2015 and June 30, 2019
Pricing date:	June 14 for $4.49 million
Upsize dates:	June 17 for $4.18 million, June 22 for $1.55 million, June 27 for $1,615,000
Settlement date:	June 30
Agent:	HSBC Securities (USA) Inc.
Fees:	2.033%
Cusip:	4042K1JY0

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