By Toni Weeks
San Diego, Sept. 15 - HSBC USA Inc. priced $1.32 million of callable step-up rate notes due Dec. 19, 2023, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 4% for the first five years and will step to 5% on Dec. 19, 2016. Interest is payable monthly.
The payout at maturity will be par.
The notes will be callable at par on Dec. 19, 2016.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Callable step-up rate notes
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Amount: | $1.32 million
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Maturity: | Dec. 19, 2023
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Coupon: | 4% initially, stepping up to 5% on Dec. 19, 2016; payable monthly
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Price: | Variable
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Payout at maturity: | Par
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Call option: | At par on Dec. 19, 2016
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Pricing date: | Nov. 30
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Settlement date: | Dec. 19
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 1.879%
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Cusip: | 4042K1TY9
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