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HSBC plans collared floating-rate notes with 1.5% floor, 3.5% cap
By Marisa Wong
Madison, Wis., June 9 – HSBC USA Inc. plans to price collared floating-rate notes due Dec. 24, 2019, according to an FWP filing with the Securities and Exchange Commission.
The interest rate is Libor plus 37.5 basis points, subject to a minimum interest rate of 1.5% per year and a maximum interest rate of 3.5% per year. Interest is payable quarterly.
The payout at maturity will be par.
HSBC Securities (USA) Inc. is the agent.
The notes will settle on June 24.
The Cusip number is 40433BW53.
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