New Issue: HSBC prices $650,000 more fixed-to-floaters with 1.5% initial rate

By Marisa Wong

Madison, Wis., Feb. 6 – HSBC USA Inc. priced $650,000 of additional fixed-to-floating notes Feb. 18, 2020, according to a 424B2 filing with the Securities and Exchange Commission.

This brings the total deal size to $20.65 million. The initial $20 million of notes priced on Feb. 2.

Interest will be 1.5% for the first two years. After that, it will be Libor plus 70 basis points, up to a maximum rate of 4%. Interest will be 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:	Fixed-to-floating notes
Amount:	$20.65 million (up from $20 million)
Maturity:	Feb. 18, 2020
Coupon:	1.5% initially; beginning on Feb. 18, 2017, Libor plus 70 bps, capped at 4%; payable quarterly with floor of zero
Price:	Par
Payout at maturity:	Par
Pricing date:	Feb. 2 for $20 million, Feb. 6 for $650,000
Settlement date:	Feb. 18
Agent:	HSBC Securities (USA) Inc.
Fees:	0.25%
Cusip:	40433BA65

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