New Issue: HSBC prices $4.68 million capped floating-rate notes due 2023

By Marisa Wong

Madison, Wis., Nov. 13 - HSBC USA Inc. priced $4.68 million of capped floating-rate notes due Nov. 14, 2023, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be Libor plus 150 basis points, up to a cap. The cap is 4.25% initially and steps up to 4.75% beginning Nov. 14, 2015, to 5.25% beginning Nov. 14, 2017, to 5.75% beginning Nov. 14, 2019 and to 6.25% beginning Nov. 14, 2021. Interest is payable quarterly and cannot be less than zero.

The payout at maturity will be par.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Capped floating-rate notes
Amount:	$4.68 million
Maturity:	Nov. 14, 2023
Coupon:	Libor plus 150 bps, capped at 4.25% initially, 4.75% beginning Nov. 14, 2015, 5.25% beginning Nov. 14, 2017, 5.75% beginning Nov. 14, 2019 and 6.25% beginning Nov. 14, 2021; floor of 0%; payable quarterly
Price:	Par
Payout at maturity:	Par
Pricing date:	Nov. 8
Settlement date:	Nov. 14
Agent:	HSBC Securities (USA) Inc.
Fees:	1%
Cusip:	40432XNH0

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