New Issue: HSBC prices $6.5 million callable step-up notes with 3.5% initial rate

By Susanna Moon

Chicago, Jan. 12 - HSBC USA Inc. priced $6.5 million of callable step-up rate notes due Jan. 17, 2024, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon will be 3.5% for the first three years. It will step to 4% on Jan. 17, 2015, 4.5% on Jan. 17, 2018 and to 5% on Jan. 17, 2021. Interest is payable semiannually.

The payout at maturity will be par.

The notes will be callable at par on Jan. 19, 2017 and Jan. 19, 2022.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Callable step-up rate notes
Amount:	$6.5 million
Maturity:	Jan. 17, 2024
Coupon:	3.5% initially, stepping up to 4% on Jan. 17, 2015, 4.5% on Jan. 17, 2018 and to 5% on Jan. 17, 2021; payable semiannually
Price:	Variable
Payout at maturity:	Par
Call option:	At par on Jan. 17, 2015, Jan. 17, 2018 and Jan. 17, 2021
Pricing date:	Jan. 10
Settlement date:	Jan. 17
Agent:	HSBC Securities (USA) Inc.
Fees:	1.75%
Cusip:	4042K1VP5

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