Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers H > Headlines for HSBC USA Inc. > News item |
HSBC plans to price fixed-to-floating notes linked to 10-year CMS rate
By Toni Weeks
San Luis Obispo, Calif., April 21 – HSBC USA Inc. plans to price fixed-to-floating-rate notes due May 8, 2025 linked to the 10-year Constant Maturity Swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 2.5% for the first year. After that, the interest rate will be equal to the 10-year CMS rate, subject to a maximum coupon of 7%. Interest is payable quarterly and cannot be less than zero.
The payout at maturity will be par.
The notes (Cusip: 40433BU55) will settle on May 8.
HSBC Securities (USA) Inc. is the agent.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.