New Issue: HSBC prices $10.68 million fixed-to-floaters with 0.875% initial rate

By Marisa Wong

Madison, Wis., Aug. 1 - HSBC USA Inc. priced $10.68 million of fixed-to-floating-rate notes due Aug. 2, 2016, according to a 424B2 filing with the Securities and Exchange Commission.

The initial interest rate is 0.875%. Beginning Aug. 2, 2014, the interest rate will be Libor plus 37.5 basis points, subject to a minimum of zero and a maximum of 2.5% 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:	$10,675,000
Maturity:	Aug. 2, 2016
Coupon:	0.875% initially; beginning Aug. 2, 2014, Libor plus 37.5 bps, subject to floor of 0% and cap of 2.5% per year; payable quarterly
Price:	Varying prices
Payout at maturity:	Par
Pricing date:	July 30
Settlement date:	Aug. 2
Agent:	HSBC Securities (USA) Inc.
Fees:	Up to 0.5%
Cusip:	40432XJ51

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