By Marisa Wong
Madison, Wis., Feb. 2 - HSBC USA Inc. priced $2.6 million of callable step-up rate notes due Feb. 16, 2017, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 2.125% for the first three years and will step up to 3.25% on Feb. 16, 2015. Interest is payable semiannually.
The payout at maturity will be par.
The notes will be callable in whole at par on Feb. 16, 2015.
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: | $2.6 million
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Maturity: | Feb. 16, 2017
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Coupon: | 2.125% for the first three years, stepping up to 43.25% on Feb. 16, 2015; payable semiannually
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Price: | Variable
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Payout at maturity: | Par
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Call option: | In whole at par on Feb. 16, 2015
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Pricing date: | Jan. 31
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Settlement date: | Feb. 16
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0.744% (weighted average)
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Cusip: | 4042K1WW9
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