Published on 1/6/2012 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $2.2 million callable step-up notes with 3.5% initial rate
By Jennifer Chiou
New York, Jan. 6 - HSBC USA Inc. priced $2.2 million of callable step-up rate notes due Jan. 19, 2024, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 3.5% for the first five years. It will step to 5% on Jan. 19, 2017 and to 7% on Jan. 19, 2022. Interest is payable semiannually.
The payout at maturity will be par.
The notes will be callable at par on Jan. 19, 2017 and Jan. 19, 2022.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
|
Issue: | Callable step-up rate notes
|
Amount: | $2.2 million
|
Maturity: | Jan. 19, 2024
|
Coupon: | 3.5% initially, stepping up to 5% on Jan. 19, 2017 and to 7% on Jan. 19, 2022; payable semiannually
|
Price: | Variable
|
Payout at maturity: | Par
|
Call option: | At par on Jan. 19, 2017 and Jan. 19, 2022
|
Pricing date: | Jan. 4
|
Settlement date: | Jan. 19
|
Agent: | HSBC Securities (USA) Inc.
|
Fees: | 1.614%
|
Cusip: | 4042K1VG5
|
© 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.