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HSBC to price five-year collared floating-rate notes based on Libor
By Susanna Moon
Chicago, Jan. 27 - HSBC USA Inc. plans to price collared floating-rate notes due Feb. 9, 2016, according to an FWP filing with the Securities and Exchange Commission.
The coupon will be Libor plus 25 basis points, with a minimum rate of 2% to 2.25% and up to a maximum rate of 5.25%. The exact floor will be set at pricing. Interest is payable quarterly.
The payout at maturity will be par.
The notes (Cusip 4042K1CW1) will price Feb. 4 and settle Feb. 9.
HSBC Securities (USA) Inc. is the agent.
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