By Toni Weeks
San Luis Obispo, Calif., May 1 - HSBC USA Inc. priced another $9.33 million of fixed-to-floating notes due May 15, 2023, according to a 424B2 filing with the Securities and Exchange Commission.
This brings the total deal size to $13.28 million. The issuer previously priced $3.95 million of the notes on April 24, April 25 and April 26.
The coupon will be 3% for the first year. After that, it will be equal to Libor plus 100 basis points, with minimum coupon rate of 1% and up to a maximum rate of 6%. Interest is payable quarterly.
The payout at maturity will be par.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Fixed-to-floating notes
|
| Amount: | $13.28 million, increased from $3.95 million
|
| Maturity: | May 15, 2023
|
| Coupon: | 3% initially; after one year, Libor plus 100 bps, floor of 1% and capped at 6%; payable quarterly
|
| Price: | Variable prices
|
| Payout at maturity: | Par
|
| Pricing dates: | April 24, April 25 and April 26 (for $3.95 million); April 29, April 30 and May 1 (for $9.33 million)
|
| Settlement date: | May 15
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 1.01%
|
| Cusip: | 40432XEY3
|
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