By Wendy Van Sickle
Columbus, Ohio, March 16 – HSBC USA Inc. priced $2 million of collared floating-rate notes due March 16, 2021, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will equal Libor, subject to a minimum interest rate of 2.5% and a maximum interest rate of 3.5% per year. Interest is payable quarterly.
The payout at maturity will be par plus the final coupon.
HSBC Securities (USA) Inc. is the agent. Distribution is through Morgan Stanley Wealth Management.
| Issuer: | HSBC USA Inc.
|
| Issue: | Collared floating-rate notes
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| Amount: | $2 million
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| Maturity: | March 16, 2021
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| Coupon: | Libor, subject to floor of 2.5% and cap of 3.5% per year; payable quarterly
|
| Price: | Par
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| Payout at maturity: | Par
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| Pricing date: | March 13
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| Settlement date: | March 16
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| Underwriter: | HSBC Securities (USA) Inc.
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| Distribution: | Morgan Stanley Wealth Management
|
| Fees: | 0.75%
|
| Cusip: | 40433UY34
|
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