New Issue: HSBC lifts floaters due 2023 with 1.35% floor to $6.21 million

By Marisa Wong

Madison, Wis., March 27 - HSBC USA Inc. priced an additional $5.69 million of floating-rate notes with coupon floor due April 4, 2023, according to a 424B2 filing with the Securities and Exchange Commission.

This brings the total issue size to $6.21 million. The initial $500,000 priced on March 20 and an additional $25,000 priced on March 22. The latest add-ons of $75,000 and $5.61 million priced on March 25 and March 26, respectively.

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:	$6.21 million (increased from $500,000)
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 for $500,000, March 22 for $25,000, March 25 for $75,000, March 26 for $5,685,000
Settlement date:	April 4
Underwriter:	HSBC Securities (USA) LLC
Fees:	1%
Cusip:	40432XD57

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