New Issue: HSBC prices $15.75 million callable step-up notes with 2.25% initial rate

By Wendy Van Sickle

Columbus, Ohio, Dec. 14 – HSBC USA Inc. priced $15.75 million of callable step-up notes due Dec. 16, 2021, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon will be 2.25% until June 16, 2019, when it will step up to 3.25% through maturity. Interest is payable quarterly.

The payout at maturity will be par.

The notes will be callable at par on June 16, 2019.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Callable step-up rate notes
Amount:	$15,753,000
Maturity:	Dec. 16, 2021
Coupon:	2.25% until June 16, 2019, when it will step up to 3.25% through maturity; payable quarterly
Price:	Par
Payout at maturity:	Par
Call option:	At par on June 16, 2019
Pricing date:	Dec. 13
Settlement date:	Dec. 16
Agent:	HSBC Securities (USA) Inc.
Fees:	0.578%
Cusip:	40433UE28

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