New Issue: HSBC prices $400,000 additional fixed-to-floaters with 2% initial rate

By Jennifer Chiou

New York, March 14 - HSBC USA Inc. upsized its issue of fixed-to-floating notes due March 20, 2020 to $1.43 million from $1.03 million, 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.
Issue:	Fixed-to-floating notes
Amount:	$1.43 million (upsized from $1.03 million)
Maturity:	March 20, 2020
Coupon:	2% initially; after one year, Libor plus 75 bps, floor of 0.75% and capped at 6%; payable quarterly
Price:	Par
Payout at maturity:	Par
Pricing date:	March 5 for original $1.03 million; March 12 for $200,000; March 14 for $200,000
Settlement date:	March 20
Agent:	HSBC Securities (USA) Inc.
Fees:	1%
Cusip:	40432XCH2

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