HSBC plans six-year collared floating notes with 2% floor, 4% cap

By Marisa Wong

Madison, Wis., Oct. 9 – HSBC USA Inc. plans to price collared floating-rate notes due Oct. 29, 2020, according to an FWP filing with the Securities and Exchange Commission.

Interest will be equal to Libor, with a floor of 2% and a cap of 4% per year. Interest is payable quarterly.

The payout at maturity will be par plus the final coupon.

HSBC Securities (USA) Inc. is the agent.

The notes will settle on Oct. 29.

The Cusip number is 40433BRE0.

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