New Issue: HSBC prices $5.62 million callable step-up notes with 2% initial rate

By Wendy Van Sickle

Columbus, Ohio, May 16 – HSBC USA Inc. priced $5.62 million of callable step-up notes due May 18, 2022, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate will be 2% for the first two years, stepping up to 2.5% on May 18, 2019, to 3.25% on May 18, 2020 and to 4% on May 18, 2021. Interest will be payable semiannually.

The payout at maturity will be par.

The notes will be callable semiannually at par beginning May 18, 2018.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Callable step-up rate notes
Amount:	$5,623,000
Maturity:	May 18, 2022
Coupon:	2% for the first two years, stepping up to 2.5% on May 18, 2019, to 3.25% on May 18, 2020 and to 4% on May 18, 2021; payable semiannually
Price:	Par
Payout at maturity:	Par
Call option:	At par semiannually beginning May 18, 2018
Pricing date:	May 15
Settlement date:	May 18
Agent:	HSBC Securities (USA) Inc.
Fees:	0.597955%
Cusip:	40433U5H5

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