New Issue: HSBC prices $500,000 fixed-to-floating notes with 3.3% initial rate

By Angela McDaniels

Tacoma, Wash., July 25 - HSBC USA Inc. priced $500,000 of fixed-to-floating-rate notes due July 26, 2023, according to a 424B2 filing with the Securities and Exchange Commission.

The initial interest rate is 3.3%. Beginning Jan. 26, 2015, the interest rate will be Libor plus 100 basis points, subject to a minimum of zero and a maximum of 7% per year. 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:	$500,000
Maturity:	July 26, 2023
Coupon:	3.3% initially; after 18 months, Libor plus 100 bps, subject to floor of zero and cap of 7% per year; payable quarterly
Price:	Varying prices
Payout at maturity:	Par
Pricing date:	July 23
Settlement date:	July 26
Agent:	HSBC Securities (USA) Inc.
Fees:	Up to 1.5%
Cusip:	40432XHZ7

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