By Marisa Wong
Morgantown, W.Va., May 26 – HSBC USA Inc. priced $1.41 million of callable step-up rate notes due May 25, 2021, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 1.5% in year one, 1.75% in year two, 2.15% in year three, 2.65% in year four and 3.35% in year five. Interest is payable semiannually.
The payout at maturity will be par.
The notes are callable at par on any coupon payment date after one year.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Callable step-up rate notes
|
| Amount: | $1,405,000
|
| Maturity: | May 25, 2021
|
| Coupon: | 1.5% in year one, 1.75% in year two, 2.15% in year three, 2.65% in year four and 3.35% in year five; payable semiannually
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on any coupon payment date after one year
|
| Pricing date: | May 20
|
| Settlement date: | May 25
|
| Underwriter: | HSBC Securities (USA) Inc.
|
| Fees: | 0.5%
|
| Cusip: | 40433UMU7
|
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