New Issue: HSBC prices $18.33 million fixed-to-floaters with 1.5% initial rate

By Toni Weeks

San Diego, June 4 - HSBC USA Inc. priced $18.33 million of fixed-to-floating notes due June 7, 2017, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon will be 1.5% for the first two years. After that, the rate will be Libor plus 45 basis points, subject to a minimum rate of 0.45% and a maximum interest rate of 5% per year. Interest is payable semiannually.

The payout at maturity will be par.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Fixed-to-floating notes
Amount:	$18,327,000
Maturity:	June 7, 2017
Coupon:	1.5% for two years; after that, Libor plus 45 bps, with floor of 0.45% and cap of 5%; payable semiannually
Price:	Par
Payout at maturity:	Par
Pricing date:	May 31
Settlement date:	June 7
Agent:	HSBC Securities (USA) Inc.
Fees:	2.5%
Cusip:	4042K1M42

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