Published on 3/23/2015 in the Prospect News Structured Products Daily.
New Issue: HSBC priced $900,000 callable step-up notes with 2.4% initial rate
By Toni Weeks
San Luis Obispo, Calif., March 23 – HSBC USA Inc. priced $900,000 of callable step-up notes due March 27, 2025, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will initially be 2.4%, stepping up to 4.4% on March 27, 2020. Interest will be payable semiannually.
The payout at maturity will be par.
The notes will be callable in whole on March 27, 2020.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Callable step-up notes
|
| Amount: | $900,000
|
| Maturity: | March 27, 2025
|
| Coupon: | 2.4% initially, stepping up to 4.4% on March 27, 2020; payable semiannually
|
| Price: | Par
|
| Call option: | At par in whole on March 27, 2020
|
| Payout at maturity: | Par
|
| Pricing date: | March 19
|
| Settlement date: | March 27
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 1%
|
| Cusip: | 40433BH76
|
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