HSBC to price seven-year fixed-to-floaters with 4% initial rate

By Jennifer Chiou

New York, July 7 - HSBC USA Inc. plans to price fixed-to-floating rate notes due July 27, 2018, according to an FWP with the Securities and Exchange Commission.

The coupon will be 4% for the first year. Thereafter, the rate will be Libor plus 100 bps, capped at 7%. Interest is payable quarterly.

The payout at maturity will be par.

The notes (Cusip: 4042K1LE1) will price on July 22 and settle on July 27.

HSBC Securities (USA) Inc. will be the agent.

© 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.