Published on 5/23/2013 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $12 million three-year collared floaters with 0.65% floor, 2% cap
By Susanna Moon
Chicago, May 23 - HSBC USA Inc. priced $12 million of collared floating-rate notes due May 24, 2016, according to an FWP with the Securities and Exchange Commission.
Interest will be equal to one-month Libor, with a floor of 0.65% and a cap of 2% per year. Interest is payable monthly.
The payout at maturity will be par plus the final coupon.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Collared floating-rate notes
|
| Amount: | $12 million
|
| Maturity: | May 24, 2016
|
| Coupon: | One-month Libor, floor of 0.65% and capped at 2%; payable monthly
|
| Price: | Variable
|
| Payout at maturity: | Par
|
| Pricing date: | May 21
|
| Settlement date: | May 24
|
| Underwriter: | HSBC Securities (USA) Inc.
|
| Fees: | 0.2%
|
| Cusip: | 40432XFK2
|
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