New Issue: HSBC prices $282,000 callable step-up notes with 2.25% initial rate

By Marisa Wong

Morgantown, W.Va., Feb. 10 – HSBC USA Inc. priced $282,000 of callable step-up notes due Feb. 8, 2022, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon will be 2.25% for the first year, stepping up to 2.55% on Feb. 8, 2018, to 2.85% on Feb. 8, 2019, to 3.15% on Feb. 8, 2020 and to 3.45% on Feb. 8, 2021. Interest is payable quarterly.

The payout at maturity will be par.

After one year, the notes will be callable quarterly at par.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Callable step-up rate notes
Amount:	$282,000
Maturity:	Feb. 8, 2022
Coupon:	2.25% for the first year, stepping up to 2.55% on Feb. 8, 2018, to 2.85% on Feb. 8, 2019, to 3.15% on Feb. 8, 2020 and to 3.45% on Feb. 8, 2021; payable quarterly
Price:	Par
Payout at maturity:	Par
Call option:	After one year, quarterly at par
Pricing date:	Feb. 3
Settlement date:	Feb. 8
Agent:	HSBC Securities (USA) Inc.
Fees:	0.6%
Cusip:	40433UM37

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