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HSBC plans 10-year collared floating notes with 3% floor, 6% cap
By Marisa Wong
Madison, Wis., March 31 - HSBC USA Inc. plans to price collared floating-rate notes due April 17, 2024, according to an FWP filing with the Securities and Exchange Commission.
Interest will be equal to Libor plus 12.5 basis points, with a floor of 3% and a cap of 6% per year. Interest is payable quarterly.
The payout at maturity will be par plus the final coupon.
HSBC Securities (USA) Inc. is the agent.
The notes will settle on April 17.
The Cusip number is 40432XWR8.
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