By Susanna Moon
Chicago, July 27 - HSBC USA Inc. priced $11.82 million of callable step-up rate notes due July 28, 2023, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 3.5% for the first four years and will step to 5.5% in year five. Interest is payable semiannually.
The payout at maturity will be par.
The notes will be callable at par on July 28, 2015.
HSBC Securities (USA) Inc. is the agent. It will pay its entire fee to Morgan Stanley Smith Barney LLC as a fixed sales commission.
Issuer: | HSBC USA Inc.
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Issue: | Callable step-up rate notes
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Amount: | $11,818,000
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Maturity: | July 28, 2023
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Coupon: | 3.5% initially, steps up to 5.5% on July 28, 2015; payable semiannually
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Price: | Par
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Payout at maturity: | Par
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Call option: | At par on July 28, 2015
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Pricing date: | July 25
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Settlement date: | July 28
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 1.75%
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Cusip: | 4042K1LG6
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