By Susanna Moon
Chicago, Oct. 14 - HSBC USA Inc. priced $1.11 million of fixed-to-floating notes due Oct. 17, 2016, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 3.25% for the first 18 months. After that, it will be Libor plus 100 basis points, with a minimum interest rate of 1% and a maximum rate of 7%.
Interest is payable quarterly.
The payout at maturity will be par.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
|
Issue: | Fixed-to-floating notes
|
Amount: | $1.11 million
|
Maturity: | Oct. 17, 2016
|
Coupon: | 3.25% for 18 months; then, Libor plus 100 bps, floor of 1% and cap of 7%; payable quarterly
|
Price: | Variable prices
|
Payout at maturity: | Par
|
Pricing date: | Oct. 12
|
Settlement date: | Oct. 17
|
Agent: | HSBC Securities (USA) Inc.
|
Fees: | 0.75%
|
Cusip: | 4042K1PA5
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.