Published on 7/8/2016 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $250,000 five-year fixed-to-floaters with 2.15% initial rate
By Susanna Moon
Chicago, July 8 – HSBC USA Inc. priced $250,000 of fixed-to-floating notes due July 6, 2021, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 2.15% for the first two years. After that, it will be Libor plus 115 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.
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| Issue: | Fixed-to-floating notes
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| Amount: | $250,000
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| Maturity: | July 6, 2021
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| Coupon: | 2.15% initially; beginning July 6, 2018, Libor plus 115 bps, capped at 4%; payable quarterly
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| Price: | Par
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| Payout at maturity: | Par
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| Pricing date: | June 30
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| Settlement date: | July 6
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 0.5%
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| Cusip: | 40433UQA7
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