New Issue: HSBC prices $3.4 million more fixed-to-floaters with 3% initial rate

By Angela McDaniels

Tacoma, Wash., May 15 - HSBC USA Inc. priced another $3.4 million of fixed-to-floating-rate notes due May 15, 2023, according to a 424B2 filing with the Securities and Exchange Commission.

The notes priced on May 10 and bring the total issue size to $28.14 million.

The interest rate is 3% for the first year. After that, it will be Libor plus 100 basis points, subject to a minimum of 1% and a maximum 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-rate notes
Amount:	$28,142,000, increased from $3.95 million
Maturity:	May 15, 2023
Coupon:	3% initially; after one year, Libor plus 100 bps, subject to floor of 1% and cap of 6%; payable quarterly
Price:	Variable prices
Payout at maturity:	Par
Pricing dates:	April 24, April 25 and April 26 (for $3.95 million); April 29, April 30 and May 1 (for $9.33 million); May 2, May 3 and May 6 (for $5,397,000); May 7, May 8 and May 9 (for $6,065,000); May 10 (for $3.4 million)
Settlement date:	May 15
Agent:	HSBC Securities (USA) Inc.
Fees:	1.011%
Cusip:	40432XEY3

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