Published on 8/15/2016 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $12.11 million callable step-up notes with 2% initial rate
By Devika Patel
Knoxville, Tenn., Aug. 15 – HSBC USA Inc. priced $12.11 million of callable step-up rate notes due Aug. 17, 2021, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 2% per year through Aug. 17, 2018, stepping up to 2.2% through Aug. 17, 2019, to 2.4% through Aug. 17, 2020 and to 2.6% through maturity. Interest is payable semiannually.
The payout at maturity will be par.
The notes are callable semiannually at par starting Aug. 17, 2018.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Callable step-up rate notes
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Amount: | $12,105,000
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Maturity: | Aug. 17, 2021
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Coupon: | 2% through Aug. 17, 2018, 2.2% through Aug. 17, 2019, 2.4% through Aug. 17, 2020 and 2.6% through maturity; payable semiannually
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Price: | Par
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Payout at maturity: | Par
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Call option: | At par on any semiannual coupon payment date beginning Aug. 17, 2018
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Pricing date: | Aug. 12
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Settlement date: | Aug. 17
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0.547%
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Cusip: | 40433UTF3
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