HSBC plans five-year collared floating notes with 1.5% floor, 3.5% cap

By Susanna Moon

Chicago, May 8 – HSBC USA Inc. plans to price collared floating-rate notes due May 22, 2020, according to an FWP filing with the Securities and Exchange Commission.

Interest will be equal to Libor, with a floor of 1.5% and a cap of 3.5% 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 May 22.

The Cusip number is 40433BW38.

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