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HSBC plans three-year collared floating notes with 0.65% floor, 2% cap
By Susanna Moon
Chicago, May 16 - HSBC USA Inc. plans to price collared floating-rate notes due May 24, 2016, according to an FWP with the Securities and Exchange Commission.
Interest will be equal to Libor, with a floor of 0.65% and a cap of 2% per year. Interest is payable monthly.
The payout at maturity will be par plus the final coupon.
HSBC Securities (USA) Inc. is the agent.
The notes will price on May 21 and settle on May 24.
The Cusip number is 40432XFK2.
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