HSBC plans seven-year collared floaters with 2.5% floor and 6.5% cap

By Susanna Moon

Chicago, March 3 - HSBC USA Inc. plans to price collared floating-rate notes due March 15, 2018, according to an FWP filing with the Securities and Exchange Commission.

The coupon is Libor plus 75 basis points, with a minimum rate of 2.5% and a maximum rate of 6.5%. Interest is payable quarterly.

The payout at maturity will be par.

HSBC Securities (USA) Inc. is the agent.

The notes will settle on March 15.

The Cusip is 4042K1ES8.

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