By Marisa Wong
Madison, Wis., April 28 - HSBC USA Inc. priced $5 million of floating-rate notes due April 30, 2021, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 70% of the 10-year Constant Maturity Swap rate, subject to a minimum interest rate of 2%. 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: | Floating-rate notes
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Amount: | $5 million
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Maturity: | April 30, 2021
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Coupon: | 10-year CMS rate times 70%, floor of 2%; payable quarterly
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Price: | Par
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Payout at maturity: | Par
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Pricing date: | April 25
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Settlement date: | April 30
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0.875%
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Cusip: | 40433BAE8
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