By Andrea Heisinger
New York, Feb. 9 - HSBC USA Inc. gave the terms of its $1.5 billion of 2.375% three-year senior notes priced at a spread of 210 basis points over Treasuries, according to an FWP filing with the Securities and Exchange Commission.
The paper sold at the tight end of guidance, which was in the 215 bps area, the source said.
The notes (A1/A+/AA) priced at 99.787 to yield 2.449%.The paper is non-callable.
HSBC Securities (USA) Inc. was the bookrunner.
Proceeds will be used for general corporate purposes, including investments in and advancements to subsidiaries, financing future acquisitions of financial institutions, as well as banking and other assets.
The U.S. subsidiary of England's HSBC Holdings plc is based in New York City.
| Issuer: | HSBC USA Inc.
|
| Issue: | Senior notes
|
| Amount: | $1.5 billion
|
| Maturity: | Feb. 13, 2015
|
| Bookrunner: | HSBC Securities (USA) Inc.
|
| Coupon: | 2.375%
|
| Price: | 99.787
|
| Yield: | 2.449%
|
| Spread: | Treasuries plus 210 bps
|
| Call: | Non-callable
|
| Trade date: | Feb. 8
|
| Settlement date: | Feb. 13
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A+
|
| Fitch: AA
|
| Price talk: | 215 bps area
|
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