Published on 5/23/2013 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $12 million three-year collared floaters with 0.65% floor, 2% cap
By Susanna Moon
Chicago, May 23 - HSBC USA Inc. priced $12 million of collared floating-rate notes due May 24, 2016, according to an FWP with the Securities and Exchange Commission.
Interest will be equal to one-month 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.
Issuer: | HSBC USA Inc.
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Issue: | Collared floating-rate notes
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Amount: | $12 million
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Maturity: | May 24, 2016
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Coupon: | One-month Libor, floor of 0.65% and capped at 2%; payable monthly
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Price: | Variable
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Payout at maturity: | Par
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Pricing date: | May 21
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Settlement date: | May 24
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Underwriter: | HSBC Securities (USA) Inc.
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Fees: | 0.2%
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Cusip: | 40432XFK2
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