Published on 2/13/2012 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $620,000 more callable step-up notes due 2017 with 2.125% initial rate
By Toni Weeks
San Diego, Feb. 13 - HSBC USA Inc. priced another $620,000 of callable step-up rate notes due Feb. 16, 2017, according to a 424B2 filing with the Securities and Exchange Commission.
This brings the total issue size to $5.79 million. HSBC priced the initial $2.6 million of the notes on Jan. 31 and another $2,565,000 of the notes on Feb. 6.
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: | $5,785,000, increased from $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 3.25% 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 dates: | Jan. 31 for $2.6 million; Feb. 6 for $2,565,000; Feb. 9 for $620,000
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Settlement date: | Feb. 16
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0.769% (weighted average)
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Cusip: | 4042K1WW9
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