Published on 4/15/2014 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $4.69 million collared floaters with 3% floor, 6% cap
By Angela McDaniels
Tacoma, Wash., April 15 - HSBC USA Inc. priced $4.69 million of collared floating-rate notes due April 17, 2024, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is Libor plus 12.5 basis points, subject to a minimum interest rate of 3% per year and a maximum interest rate of 6% per year. Interest is payable quarterly.
The payout at maturity will be par.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Collared floating-rate notes
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Amount: | $4,694,000
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Maturity: | April 17, 2024
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Coupon: | Libor plus 12.5 bps, subject to minimum of 3% per year and maximum of 6% per year; payable quarterly
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Price: | Variable prices
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Payout at maturity: | Par
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Pricing date: | April 14
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Settlement date: | April 17
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Underwriter: | HSBC Securities (USA) Inc.
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Fees: | 0.996%
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Cusip: | 40432XWR8
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