New Issue: HSBC prices $20.05 million fixed-to-floaters with 2% initial rate

By Jennifer Chiou

New York, Dec. 16 - HSBC USA Inc. priced $20,049,000 of fixed-to-floating notes due Dec. 21, 2016, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate is 2% for the first two years. After that, it will be equal to Libor plus 95 basis points, subject to a maximum rate of 5% and a minimum rate of 0.95% in each period. Interest is payable semiannually.

The payout at maturity will be par.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Fixed-to-floating notes
Amount:	$20,049,000
Maturity:	Dec. 21, 2016
Coupon:	Initially 2%; after two years, Libor plus 95 bps, with a maximum rate of 5% and minimum rate of 0.95%; payable semiannually
Price:	Par
Payout at maturity:	Par
Pricing date:	Dec. 14
Settlement date:	Dec. 21
Agent:	HSBC Securities (USA) Inc.
Fees:	2.66%
Cusip:	4042K1SW4

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