By Susanna Moon
Chicago, July 16 – HSBC USA Inc. priced $2.57 million of callable step-up rate notes due July 17, 2018, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 1% initially, stepping up to 2% on Jan. 17, 2017. Interest is payable semiannually.
The payout at maturity will be par.
The notes will be callable in 1.5 years.
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: | $2.57 million
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| Maturity: | July 17, 2018
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| Coupon: | 1% initially, stepping up to 2% on Jan. 17, 2017; payable semiannually
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| Price: | Varying
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| Payout at maturity: | Par
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| Call option: | At par in January 2017
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| Pricing date: | July 14
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| Settlement date: | July 17
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| Underwriter: | HSBC Securities (USA) Inc.
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| Fees: | 0.217%
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| Cusip: | 40433B3Z9
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