HSBC plans collared floaters linked to CMT rate with 2% floor, 6% cap

By Susanna Moon

Chicago, May 10 - HSBC USA Inc. plans to price collared floating-rate notes due May 31, 2016, according to an FWP filing with the Securities and Exchange Commission.

The coupon will be equal to the two-year Constant Maturity Treasury 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 May 25 and will settle on May 31.

The Cusip is 4042K1HP1.

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