Published on 3/14/2011 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $11.56 million collared floaters with 2.5% floor, 6.5% cap
By Susanna Moon
Chicago, March 14 - HSBC USA Inc. priced $11.56 million of collared floating-rate notes due March 15, 2018, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon is Libor plus 75 basis points, subject to 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.
Issuer: | HSBC USA Inc.
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Issue: | Collared floating-rate notes
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Amount: | $11.56 million
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Maturity: | March 15, 2018
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Coupon: | Libor plus 75 bps, floor of 2.5%, capped at 6.5%; payable quarterly
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Price: | Par
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Payout at maturity: | Par
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Pricing date: | March 10
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Settlement date: | March 15
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 1%
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Cusip: | 4042K1ES8
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