By Toni Weeks
San Diego, Aug. 30 - HSBC USA Inc. priced $1.93 million of fixed-to-floating notes due Aug. 31, 2018, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 2.5% for the first two years. After that it will be equal to Libor plus 100 basis points, subject to a maximum rate of 7%.
Interest is payable quarterly.
The payout at maturity will be par.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Fixed-to-floating notes
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Amount: | $1,925,000
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Maturity: | Aug. 31, 2018
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Coupon: | Initially 2.5%; after that, Libor plus 100 bps, with a maximum rate of 7%; payable quarterly
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Price: | Variable
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Payout at maturity: | Par
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Pricing date: | Aug. 26
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Settlement date: | Aug. 31
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 1.341%
|
Cusip: | 4042K1MH3
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