By Toni Weeks
San Luis Obispo, Calif., June 2 – HSBC USA Inc. priced $60 million of fixed-to-floating notes due June 11, 2020, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 1.92% for the first three years. After that, it will be Libor plus 125 basis points, up to a maximum rate of 3%. Interest will be payable quarterly and cannot be less than zero.
The payout at maturity will be par.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
|
| Issue: | Fixed-to-floating notes
|
| Amount: | $60 million
|
| Maturity: | June 11, 2020
|
| Coupon: | 1.92% for first three years; after that, Libor plus 125 bps, capped at 3%; payable quarterly with floor of zero
|
| Price: | Variable
|
| Payout at maturity: | Par
|
| Pricing date: | May 28
|
| Settlement date: | June 11
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 0.6%
|
| Cusip: | 40433B2E7
|
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