By Susanna Moon
Chicago, March 8 - HSBC USA Inc. priced $1.03 million of fixed-to-floating notes due March 20, 2020, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 2% for the first year. After that, it will be equal to Libor plus 75 basis points, with minimum coupon rate of 0.75% and up to a maximum rate of 6%. Interest is payable quarterly.
The payout at maturity will be par.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Fixed-to-floating notes
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Amount: | $1.03 million
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Maturity: | March 20, 2020
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Coupon: | 2% initially; after one year, Libor plus 75 bps, floor of 0.75% and capped at 6%; payable quarterly
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Price: | Par
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Payout at maturity: | Par
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Pricing date: | March 5
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Settlement date: | March 20
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 1%
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Cusip: | 40432XCH2
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