HSBC plans five-year collared floaters with 2% floor and 5.5% cap

By Susanna Moon

Chicago, March 15 - HSBC USA Inc. plans to price collared floating-rate notes due April 1, 2016, according to an FWP filing with the Securities and Exchange Commission.

The coupon is Libor plus 50 basis points, with a minimum rate of 2% and a maximum rate of 5.5%. Interest is payable quarterly.

The payout at maturity will be par.

HSBC Securities (USA) Inc. is the agent.

The notes will price on March 29 and will settle on April 1.

The Cusip is 4042K1FG3.

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