New Issue: HSBC prices $14.13 million callable step-up notes with 1.5% initial rate

By Wendy Van Sickle

Columbus, Ohio, June 21 – HSBC USA Inc. priced $14.13 million of callable step-up rate notes due June 22, 2021, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate is 1.5% in year one, 1.9% in year two, 2.3% in year three, 2.7% in year four and 3.1% in year five. Interest is payable semiannually.

The payout at maturity will be par.

The notes are callable at par on any coupon payment date after one year.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Callable step-up rate notes
Amount:	$14,125,000
Maturity:	June 22, 2021
Coupon:	1.5% in year one, 1.9% in year two, 2.3% in year three, 2.7% in year four and 3.1% in year five; payable semiannually
Price:	Par
Payout at maturity:	Par
Call option:	At par on any coupon payment date after one year
Pricing date:	June 17
Settlement date:	June 22
Underwriter:	HSBC Securities (USA) Inc.
Fees:	0.5%
Cusip:	40433UPQ3

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