By Andrea Heisinger
New York, Feb. 8 - HSBC USA Inc. priced $1.5 billion of 2.375% three-year senior notes on Wednesday at a spread of 210 basis points over Treasuries, a source away from the offering said.
The paper was sold at the tight end of guidance in the 215 bps area, the source said.
The notes (A1/A+/AA) are non-callable.
Full terms were not available at press time.
HSBC Securities (USA) Inc. was the bookrunner.
Proceeds will be used for general corporate purposes, including investments in and advancements to subsidiaries, financing future acquisitions of financial institutions, as well as banking and other assets.
The U.S. subsidiary of England's HSBC Holdings plc is based in New York City.
| Issuer: | HSBC USA Inc.
|
| Issue: | Senior notes
|
| Amount: | $1.5 billion
|
| Maturity: | February 2015
|
| Bookrunner: | HSBC Securities (USA) Inc.
|
| Coupon: | 2.375%
|
| Spread: | Treasuries plus 210 bps
|
| Call: | Non-callable
|
| Trade date: | Feb. 8
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A+
|
| Fitch: AA
|
| Price talk: | 215 bps area
|
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