New Issue: HSBC sells $4.5 million callable step-up notes with 2.25% initial rate

By Wendy Van Sickle

Columbus, Ohio, Oct. 19 – HSBC USA Inc. priced $4.5 million of callable step-up rate notes due Oct. 20, 2026, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate is 2.25% for the first five years, stepping up to 3% on Oct. 20, 2021, to 4% on Oct. 20, 2024 and to 5% on Oct. 20, 2025. Interest is payable quarterly.

The payout at maturity will be par.

The notes are callable semiannually at par starting Oct. 20, 2021.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Callable step-up rate notes
Amount:	$4.5 million
Maturity:	Oct. 20, 2026
Coupon:	2.25% for first five years, stepping up to 3% on Oct. 20, 2021, to 4% on Oct. 20, 2024 and to 5% on Oct. 20, 2025; payable quarterly
Price:	Par
Payout at maturity:	Par
Call option:	At par on any semiannual coupon payment date beginning Oct. 20, 2021
Pricing date:	Oct. 17
Settlement date:	Oct. 20
Agent:	HSBC Securities (USA) Inc.
Fees:	2%
Cusip:	40433UVU7

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