Published on 10/28/2014 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $33.54 million collared floaters with 2% floor, 4% cap
By Angela McDaniels
Tacoma, Wash., Oct. 28 – HSBC USA Inc. priced $33.54 million of collared floating-rate notes due Oct. 29, 2020, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is Libor flat, subject to a minimum interest rate of 2% per year and a maximum interest rate of 4% 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: | $33,537,000
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Maturity: | Oct. 29, 2020
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Coupon: | Libor, subject to coupon floor of 2% per year and coupon cap of 4% 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: | Oct. 24
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Settlement date: | Oct. 29
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Underwriter: | HSBC Securities (USA) Inc.
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Fees: | Variable; average is 0.299%
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Cusip: | 40433BRE0
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