New Issue: HSBC prices $4.8 million senior fixed-rate step-up callable notes with 3.5% initial rate

By Toni Weeks

San Diego, Jan. 20 - HSBC USA Inc. priced $4.8 million of senior fixed-rate step-up callable notes due Jan. 23, 2024, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon will be 3.5% for the first five years and will step to 5% on Jan. 23, 2017 and to 7% on Jan. 23, 2022. Interest is payable semi-annually.

The payout at maturity will be par.

The notes will be callable at par on Jan. 23, 2017 and on Jan. 23, 2022.

HSBC Securities (USA) Inc. is the agent with Morgan Stanley Smith Barney LLC as distributor

Issuer:	HSBC USA Inc.
Issue:	Senior fixed-rate step-up callable notes
Amount:	$4,796,000
Maturity:	Jan. 23, 2024
Coupon:	3.5% initially, stepping up to 5% on Jan. 23, 2017 and to 7% on Jan. 23, 2022; payable semi-annually
Price:	Par
Payout at maturity:	Par
Call option:	At par on Jan. 23, 2017 and on Jan. 23, 2022
Pricing date:	Jan. 18
Settlement date:	Jan. 23
Agent:	HSBC Securities (USA) Inc. with Morgan Stanley Smith Barney LLC as distributor
Fees:	1.75%, used for selling concessions
Cusip:	4042K1VJ9

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