By Toni Weeks
San Diego, Sept. 28 - HSBC USA Inc. priced $615,000 of fixed-to-floating notes due Sept. 29, 2023, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 4.25% for the first four years. After that it will be equal to Libor plus 100 basis points, subject to a minimum interest rate of 1% and a maximum rate of 7%.
Interest is payable quarterly.
The payout at maturity will be par.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Fixed-to-floating notes
|
| Amount: | $615,000
|
| Maturity: | Sept. 29, 2023
|
| Coupon: | 4.25% for first four years; after that, Libor plus 100 bps, with a minimum rate of 1% and a maximum rate of 7%; payable quarterly
|
| Price: | Variable
|
| Payout at maturity: | Par
|
| Pricing date: | Sept. 26
|
| Settlement date: | Sept. 29
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 1.5%
|
| Cusip: | 4042K1NT6
|
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