New Issue: HSBC prices $3.63 million fixed-to-floaters with 3% initial rate

By Jennifer Chiou

New York, Jan. 2 - HSBC USA Inc. priced $3,627,000 of fixed-to-floating notes due Dec. 21, 2022, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon will be 3% for the first year. After that, it will be equal to Libor plus 62 basis points, with a maximum rate of 7%. Interest is payable quarterly.

The payout at maturity will be par.

Merrill Lynch & Co. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Fixed-to-floating notes
Amount:	$3,627,000
Maturity:	Dec. 21, 2022
Coupon:	3% initially; beginning on Dec. 21, 2014, Libor plus 62 bps, cap of 7%; payable quarterly
Price:	Par
Payout at maturity:	Par
Pricing dates:	Dec. 14
Settlement date:	Dec. 21
Agent:	Merrill Lynch & Co.
Fees:	1.75%
Cusip:	40432X5F4

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