By Angela McDaniels
Tacoma, Wash., May 1 – HSBC USA Inc. priced $1.9 million of callable step-up rate notes due May 4, 2018, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 0.75% for the first 18 months and 2% for the final 18 months. Interest is payable semiannually.
The payout at maturity will be par.
The notes will be redeemable in whole at par on Nov. 4, 2016.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Callable step-up rate notes
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Amount: | $1.9 million
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Maturity: | May 4, 2018
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Coupon: | 0.75% for first 18 months and 2% for final 18 months; payable semiannually
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Price: | Varying prices
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Payout at maturity: | Par
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Call option: | In whole at par on Nov. 4, 2016
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Pricing date: | April 29
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Settlement date: | May 4
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Underwriter: | HSBC Securities (USA) Inc.
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Fees: | 0.25%
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Cusip: | 40433BU22
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