Published on 1/20/2012 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $3.55 million leveraged floating-rate notes due 2014
By Angela McDaniels
Tacoma, Wash., Jan. 20 - HSBC USA Inc. priced $3.55 million of leveraged floating-rate notes due Jan. 23, 2014, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 2.5 times Libor, subject to a minimum rate of zero. Interest is payable quarterly.
The payout at maturity will be par.
HSBC Securities (USA) Inc. is the underwriter.
Issuer: | HSBC USA Inc.
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Issue: | Leveraged floating-rate notes
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Amount: | $3,545,000
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Maturity: | Jan. 23, 2014
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Coupon: | 2.5 times Libor, subject to floor of zero; payable quarterly
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Price: | Varying prices
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Payout at maturity: | Par
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Pricing date: | Jan. 18
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Settlement date: | Jan. 23
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Underwriter: | HSBC Securities (USA) Inc.
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Fees: | 0.25%
|
Cusip: | 4042K1VH3
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