Published on 1/19/2017 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $708,000 callable step-up notes with 2.3% initial rate
By Wendy Van Sickle
Columbus, Ohio, Jan. 19 – HSBC USA Inc. priced $708,000 of callable step-up notes due Jan. 20, 2022, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 2.3% until July 20, 2019, when it will step up to 3.3% through maturity. Interest is payable quarterly.
The payout at maturity will be par.
The notes will be callable at par on July 20, 2019.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Callable step-up rate notes
|
| Amount: | $708,000
|
| Maturity: | Jan. 20, 2022
|
| Coupon: | 2.3% until July 20, 2019, when it will step up to 3.3% through maturity; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on July 20, 2019
|
| Pricing date: | Jan. 17
|
| Settlement date: | Jan. 20
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 0.56%
|
| Cusip: | 40433UL20
|
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