By Andrea Heisinger
New York, Aug. 17 - HSBC Bank USA NA priced $1.25 billion of 4.875% 10-year global bank notes on Tuesday to yield Treasuries plus 225 basis points, a source close to the deal said.
The notes priced in line with talk in the 225 bps area, she said.
The notes (A1/AA-/AA-) priced at 99.945 to yield 4.882%.
HSBC Securities was the bookrunner.
The U.S. subsidiary of HSBC Holdings plc is based in New York City.
| Issuer: | HSBC Bank USA NA
|
| Issue: | Global bank notes
|
| Amount: | $1.25 billion
|
| Maturity: | Aug. 24, 2020
|
| Bookrunner: | HSBC Securities
|
| Coupon: | 4.875%
|
| Price: | 99.945
|
| Yield: | 4.882%
|
| Spread: | Treasuries plus 225 bps
|
| Call: | Non-callable
|
| Trade date: | Aug. 17
|
| Settlement date: | Aug. 24
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: AA-
|
| Fitch: AA-
|
| Price talk: | 225 bps area
|
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