New Issue: HSBC prices $1.18 million fixed-to-floating notes with 4% initial rate

By Susanna Moon

Chicago, July 26 - HSBC USA Inc. priced $1.18 million of fixed-to-floating notes due July 27, 2018, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon is 4% for the first year. After that, it will be Libor plus 100 basis points, up to a maximum rate of 7%. Interest is payable quarterly and cannot be less than zero.

The payout at maturity will be par.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Fixed-to-floating notes
Amount:	$1,175,000
Maturity:	July 27, 2018
Coupon:	4% for one year; then Libor plus 100 bps, capped at 7%; payable quarterly
Price:	Par
Payout at maturity:	Par
Pricing date:	July 22
Settlement date:	July 27
Agent:	HSBC Securities (USA) Inc.
Fees:	1.087%
Cusip:	4042K1LE1

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