HSBC plans fixed-to-floaters due 2019 with 3.35% initial rate, 6% cap

By Susanna Moon

Chicago, Feb. 28 - HSBC USA Inc. plans to price fixed-to-floating notes due March 7, 2019, according to an FWP filing with the Securities and Exchange Commission.

The coupon will be 3.35% for the first two years. After that, it will be Libor plus 150 basis points, subject to a minimum rate of 1.5% and a maximum rate of 6%. Interest is payable quarterly.

The payout at maturity will be par.

HSBC Securities (USA) Inc. will be the agent.

The notes will price in February and settle on March 7.

The Cusip number is 4042K1YF4.

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