New Issue: HSBC prices $559,000 fixed-to-floating notes with 2.5% initial rate

By Wendy Van Sickle

Columbus, Ohio, Dec. 30 – HSBC USA Inc. priced $559,000 of fixed-to-floating notes due Dec. 29, 2021, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate will be 2.5% for the first two years. After that, it will be Libor plus 100 basis points, subject to a minimum of zero and a maximum of 4% per year. Interest will be payable quarterly.

The payout at maturity will be par.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Fixed-to-floating-rate notes
Reference asset:	Three-month Libor
Amount:	$559,000
Maturity:	Dec. 29, 2021
Coupon:	2.5% for first two years; then Libor plus 100 basis points, subject to minimum of zero and maximum of 4% per year
Price:	Par
Payout at maturity:	Par
Pricing date:	Dec. 23
Settlement date:	Dec. 29
Agent:	HSBC Securities (USA) Inc.
Fee:	0.6%%
Cusip:	40433UF35

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