Published on 5/3/2011 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $2.08 million collared floaters linked to two-year CMS rate
By Angela McDaniels
Tacoma, Wash., May 3 - HSBC USA Inc. priced $2.08 million of collared floating-rate notes due May 4, 2016 linked to the two-year Constant Maturity Swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is equal to the two-year CMS rate, subject to 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.
| Issuer: | HSBC USA Inc.
|
| Issue: | Collared floating-rate notes
|
| Amount: | $2,076,000
|
| Maturity: | May 4, 2016
|
| Coupon: | Two-year Constant Maturity Swap rate, subject to floor of 2% and cap of 6%; payable quarterly
|
| Price: | Variable prices
|
| Payout at maturity: | Par
|
| Pricing date: | April 29
|
| Settlement date: | May 4
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | Weighted average of 0.714%
|
| Cusip: | 4042K1GH0
|
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