Published on 6/16/2011 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $12.4 million collared floaters with 1.4% floor, 5% cap
By Susanna Moon
Chicago, June 16 - HSBC USA Inc. priced $12.4 million of collared floating-rate notes due Dec. 17, 2014, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon is Libor plus 50 basis points, with a minimum rate of 1.4% and a maximum rate of 5%. 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: | $12,399,000
|
Maturity: | Dec. 17, 2014
|
Coupon: | Libor plus 50 bps, subject to floor of 1.4% and cap of 5%; payable quarterly
|
Price: | Par
|
Payout at maturity: | Par
|
Pricing date: | June 14
|
Settlement date: | June 17
|
Agent: | HSBC Securities (USA) Inc.
|
Fees: | 0.529%
|
Cusip: | 4042K1JR5
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.