Published on 4/26/2017 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $3.5 million callable step-up notes with 2% initial rate
By Wendy Van Sickle
Columbus, Ohio, April 26 – HSBC USA Inc. priced $3.5 million of callable step-up notes due April 28, 2022, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 2% for the two years, stepping up to 2.5% on April 28, 2019, to 3.25% on April 28, 2020 and to 4% on April 28, 2021. Interest will be payable semiannually.
The payout at maturity will be par.
The notes will be callable at par beginning April 28, 2018.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Callable step-up rate notes
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Amount: | $3,496,000
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Maturity: | April 28, 2022
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Coupon: | 2% for the two years, stepping up to 2.5% on April 28, 2019, to 3.25% on April 28, 2020 and to 4% on April 28, 2021; payable semiannually
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Price: | Par
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Payout at maturity: | Par
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Call option: | At par on any semiannual date beginning April 28, 2018
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Pricing date: | April 25
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Settlement date: | April 28
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0.501%
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Cusip: | 40433U3N4
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