HSBC plans floaters tied to two-year CMS rate with 2% floor, 6% cap

By Susanna Moon

Chicago, April 14 - HSBC USA Inc. plans to price collared floating-rate notes due May 4, 2016, according to an FWP filing with the Securities and Exchange Commission.

The coupon will be equal to the two-year Constant Maturity Swap Rate, with a minimum rate of 2% and a maximum rate of 6%. Interest is payable quarterly.

The payout at maturity will be par.

HSBC Securities (USA) Inc. is the agent.

The notes will price on April 29 and settle on May 4.

The Cusip is 4042K1GH0.

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