Published on 5/29/2012 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $7.18 million fixed-to-floaters with 3.81% initial rate
By Toni Weeks
San Diego, May 29 - HSBC USA Inc. priced $7.18 million of fixed-to-floating notes due June 1, 2017, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 3.81% for the first year. After that, the rate will be Libor plus 50 basis points, subject to a minimum rate of 0.5% per year. Interest is payable quarterly.
The payout at maturity will be par.
Bank of America Merrill Lynch is the underwriter.
| Issuer: | HSBC USA Inc.
|
| Issue: | Fixed-to-floating notes
|
| Amount: | $7,179,000
|
| Maturity: | June 1, 2017
|
| Coupon: | Initially 3.81%; beginning June 1, 2013, Libor plus 50 bps; floor of 0.5%; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | May 24
|
| Settlement date: | June 1
|
| Underwriter: | Bank of America Merrill Lynch
|
| Fees: | 1%
|
| Cusip: | 4042K1M67
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
