Published on 9/17/2013 in the Prospect News Investment Grade Daily.
New Issue: HSBC sells $1 billion fixed- and floating-rate five-year notes
By Aleesia Forni
Virginia Beach, Va., Sept. 17 - HSBC USA Inc. priced a two-part offering of five-year senior notes (A2/A+/AA-) on Tuesday, according to an FWP filing with the Securities and Exchange Commission.
The bank priced $750 million 2.625% five-year notes with a spread of Treasuries plus 105 basis points, or 99.828 to yield 2.662%.
There was also $250 million floating-rate notes sold at par to yield Libor plus 88 bps.
HSBC Securities (USA) Inc. is the bookrunner.
Proceeds will be used for general corporate purposes.
The financial services company is based in London.
| Issuer: | HSBC USA Inc.
|
| Issue: | Senior notes
|
| Amount: | $1 billion
|
| Maturity: | Sept. 24, 2018
|
| Bookrunner: | HSBC Securities (USA) Inc.
|
| Co-managers: | ABN Amro Securities (USA) LLC, Banca IMI SpA, BBVA Securities Inc., BMO Capital Markets Corp., BNY Mellon Capital Markets, LLC, CIBC World Markets Corp., Citigroup Global Markets Inc., Comerica Securities, Inc., Commerz Markets, LLC, Danske Markets Inc., J.P. Morgan Securities LLC, Mizuho Securities USA Inc., nabSecurities, LLC, Natixis Securities America LLC, RBC Capital Markets Corp., RB International Markets (USA) LLC, RBS Securities Inc., Santander Investment Securities Inc., Scotia Capital (USA) Inc., SMBC Nikko Securities America, Inc., Williams Capital Group, LP, U.S. Bancorp Investments, Inc., Wells Fargo Securities, LLC
|
| Trade date: | Sept. 17
|
| Settlement date: | Sept. 24
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A+
|
| Fitch: AA-
|
| Distribution: | SEC-registered
|
|
|
| Fixed-rate notes
|
| Amount: | $750 million
|
| Coupon: | 2.625%
|
| Price: | 99.828
|
| Yield: | 2.662%
|
| Spread: | Treasuries plus 105 bps
|
|
|
| Floating-rate notes
|
| Amount: | $250 million
|
| Coupon: | Libor plus 88 bps
|
| Price: | Par
|
| Yield: | Libor plus 88 bps
|
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