Published on 3/22/2013 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $700,000 floating-rate notes due 2023 with 1.35% floor
By Angela McDaniels
Tacoma, Wash., March 22 - HSBC USA Inc. priced $700,000 of floating-rate notes with coupon floor due April 4, 2023, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is Libor plus 75 basis points, subject to a minimum interest rate of 1.35% per year. Interest is payable quarterly.
The payout at maturity will be par.
HSBC Securities (USA) LLC is the underwriter.
| Issuer: | HSBC USA Inc.
|
| Issue: | Floating-rate notes with coupon floor
|
| Amount: | $700,000
|
| Maturity: | April 4, 2023
|
| Coupon: | Libor plus 75 bps, subject to minimum interest rate of 1.35% per year; payable quarterly
|
| Price: | Variable prices
|
| Payout at maturity: | Par
|
| Pricing date: | March 20
|
| Settlement date: | April 4
|
| Underwriter: | HSBC Securities (USA) LLC
|
| Fees: | 1%
|
| Cusip: | 40432XD57
|
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