New Issue: HSBC prices $4.38 million fixed-to-floaters with 1.5% initial rate

By Marisa Wong

Madison, Wis., June 11 - HSBC USA Inc. priced $4.38 million of fixed-to-floating notes due Dec. 12, 2018, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon will be 1.5% for the first year. After that, it will be equal to Libor plus 50 basis points, with minimum coupon rate of 0.5% and up to a maximum rate of 4%. 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 notes
Amount:	$4,375,000
Maturity:	Dec. 12, 2018
Coupon:	1.5% initially; after one year, Libor plus 50 bps, floor of 0.5% and capped at 4%; payable quarterly
Price:	Par
Payout at maturity:	Par
Pricing date:	June 7
Settlement date:	June 12
Agent:	HSBC Securities (USA) Inc.
Fees:	0.5%
Cusip:	40432XFV8

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