By Angela McDaniels
Tacoma, Wash., March 10 – HSBC USA Inc. priced $3.5 million of collared floating-rate notes due March 11, 2020, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is Libor flat, subject to a minimum interest rate of 1.7% per year and a maximum interest rate of 4% per year. Interest is payable quarterly.
The payout at maturity will be par.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Collared floating-rate notes
|
| Amount: | $3.5 million
|
| Maturity: | March 11, 2020
|
| Coupon: | Libor, subject to coupon floor of 1.7% per year and coupon cap of 4% per year; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | March 6
|
| Settlement date: | March 11
|
| Underwriter: | HSBC Securities (USA) Inc.
|
| Fees: | 0.5%
|
| Cusip: | 40433BH27
|
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