HSBC plans 10-year floating-rate notes linked to 30-year CMS rate

By Marisa Wong

Madison, Wis., April 2 - HSBC USA Inc. plans to price floating-rate notes due April 10, 2024, according to an FWP filing with the Securities and Exchange Commission.

The interest rate will equal 81% of the 30-year Constant Maturity Swap rate, subject to a minimum rate of 2%. Interest is payable quarterly.

The payout at maturity will be par.

HSBC Securities (USA) Inc. is the agent.

The notes will settle on April 10.

The Cusip number is 40432XY70.

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