By Angela McDaniels
Tacoma, Wash., April 9 - HSBC USA Inc. priced $13.5 million of floating-rate notes due April 10, 2024 linked to the 30-year Constant Maturity Swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 81% of the 30-year CMS rate, subject to a minimum of 2% per year. Interest is payable quarterly.
The payout at maturity will be par.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Floating-notes
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Underlying rate: | 30-year Constant Maturity Swap rate
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Amount: | $13.5 million
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Maturity: | April 10, 2024
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Coupon: | 81% of 30-year CMS rate, subject to minimum of 2% per year; payable quarterly
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Price: | Par
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Payout at maturity: | Par
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Pricing date: | April 7
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Settlement date: | April 10
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 1.25%
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Cusip: | 40432XY70
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