Published on 9/14/2011 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $425,000 floored floating-rate notes due 2016
By Angela McDaniels
Tacoma, Wash., Sept. 14 - HSBC USA Inc. priced $425,000 of floored floating-rate notes due Sept. 15, 2016, according to a 424B2 filing with the Securities and Exchange Commission.
Interest is payable quarterly and equals Libor, subject to a minimum interest rate of 2%.
The payout at maturity will be par.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Floating-rate notes
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Amount: | $425,000
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Maturity: | Sept. 15, 2016
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Coupon: | Greater of 2% and Libor; payable quarterly
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Price: | Variable prices
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Payout at maturity: | Par
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Pricing date: | Sept. 12
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Settlement date: | Sept. 15
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0.653%
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Cusip: | 4042K1NC3
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