By Marisa Wong
Madison, Wis., Feb. 2 - HSBC USA Inc. priced $4.69 million of callable step-up rate notes due Feb. 2, 2024, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 3.21% for the first five years, stepping up to 4.71% for years six through 10 and to 6.71% thereafter. Interest is payable semiannually.
The payout at maturity will be par.
The notes will be callable in whole at par on Feb. 2, 2017 and Feb. 2, 2022.
Bank of America Merrill Lynch is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Callable step-up rate notes
|
| Amount: | $4,685,000
|
| Maturity: | Feb. 2, 2024
|
| Coupon: | 3.21% for the first five years, stepping up to 4.71% for years six through 10 and to 6.71% thereafter; payable semiannually
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Call option: | In whole at par on Feb. 2, 2017 and Feb. 2, 2022
|
| Pricing date: | Jan. 31
|
| Settlement date: | Feb. 2
|
| Agent: | Bank of America Merrill Lynch
|
| Fees: | 1.5%
|
| Cusip: | 4042K1VY6
|
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