Published on 7/27/2011 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $6.5 million callable step-up notes with 3.5% initial rate
By E. Janene Geiss
Philadelphia, July 27 - HSBC USA Inc. priced $6.5 million callable step-up rate notes due July 28, 2023, according to a 424B filing with the Securities and Exchange Commission.
The interest rate will be 3.5% in years one through four and 5.5% in years five through 12. Interest is payable semiannually.
The payout at maturity will be par.
The notes will be callable at par on July 28, 2015.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Callable step-up rate notes
|
| Amount: | $6,496,000
|
| Maturity: | July 28, 2023
|
| Coupon: | 3.5% initially, steps up to 5.5% on July 28, 2015; payable semiannually
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on July 28, 2015
|
| Pricing date: | July 25
|
| Settlement date: | July 28
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 1.74%
|
| Cusip: | 4042K1KH5
|
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