Published on 2/21/2017 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $3.69 million callable step-up notes with 2% initial rate
By Marisa Wong
Morgantown, W.Va., Feb. 21 – HSBC USA Inc. priced $3.69 million of callable step-up notes due Feb. 21, 2020, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 2% initially, stepping up to 2.5% on Aug. 21, 2018. Interest is payable quarterly.
The payout at maturity will be par.
The notes will be callable at par on Aug. 21, 2018.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Callable step-up rate notes
|
| Amount: | $3,685,000
|
| Maturity: | Feb. 21, 2020
|
| Coupon: | 2% initially, stepping up to 2.5% on Aug. 21, 2018; payable quarterly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | At par on Aug. 21, 2018
|
| Pricing date: | Feb. 15
|
| Settlement date: | Feb. 21
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 0.267%
|
| Cusip: | 40433UR57
|
|
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