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HSBC to price four-year collared floaters with 1.65% floor, 5% cap
By Jennifer Chiou
New York, June 17 - HSBC USA Inc. plans to price collared floating-rate notes due July 6, 2015, according to an FWP with the Securities and Exchange Commission.
The quarterly coupon is equal to Libor plus 50 basis points, subject to a floor of 1.65% and a cap of 5% per year.
The payout at maturity will be par plus the final coupon.
The notes (Cusip: 4042K1JZ7) are expected to price on June 30 and settle on July 6.
HSBC Securities (USA) Inc. is the agent.
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