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HSBC to price zero-coupon callable accreting notes due 2043
By Angela McDaniels
Tacoma, Wash., May 31 - HSBC USA Inc. plans to price zero-coupon callable accreting notes due June 2043, according to an FWP filing with the Securities and Exchange Commission.
The notes are callable on four optional redemption dates. The annual yield will be at least 4% compounded annually and will be set at pricing. The expected redemption price per $1,000 principal amount of notes is $1,081.60 in June 2015, $1,423.31 in June 2022, $1,872.98 in June 2029 and $2,464.72 in June 2036.
If the notes have not been called, the payout at maturity will be $3,243.40 per $1,000 principal amount of notes.
HSBC Securities (USA) Inc. is the underwriter.
The notes will price and settle in June.
The Cusip number is 40432XGE5.
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