Published on 5/19/2011 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $11.25 million three-year collared floating-rate notes
By Toni Weeks
San Diego, May 19 - HSBC USA Inc. priced $11.25 million of collared floating-rate notes due May 20, 2014, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon is equal to Libor plus 50 basis points, subject to a floor of 1.25% and a cap of 5% per year. Interest is payable quarterly.
The payout at maturity will be par plus the final coupon.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Collared floating-rate notes
|
| Amount: | $11,246,000
|
| Maturity: | May 20, 2014
|
| Coupon: | Libor plus 50 bps, cap of 5% and floor of 1.25%; payable quarterly
|
| Price: | Variable
|
| Payout at maturity: | Par
|
| Pricing date: | May 17
|
| Settlement date: | May 20
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 0.5%
|
| Cusip: | 4042K1HL0
|
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