By Marisa Wong
Madison, Wis., Jan. 11 - HSBC USA Inc. priced an additional $200,000 of callable step-up rate notes due Jan. 19, 2024, according to a 424B2 filing with the Securities and Exchange Commission.
This brings the total deal size to $2.4 million. The issuer priced an initial $2.2 million of the notes on Jan. 4.
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.
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Issue: | Callable step-up rate notes
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Amount: | $2.4 million (increased form $2.2 million)
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Maturity: | Jan. 19, 2024
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Coupon: | 3.5% initially, stepping up to 5% on Jan. 19, 2017 and to 7% on Jan. 19, 2022; payable semiannually
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Price: | Variable
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Payout at maturity: | Par
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Call option: | At par on Jan. 19, 2017 and Jan. 19, 2022
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Pricing date: | Jan. 4 for $2.2 million; Jan. 9 for $200,000
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Settlement date: | Jan. 19
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 1.614%
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Cusip: | 4042K1VG5
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