New Issue: HSBC prices $16.67 million callable step-up notes with 2% initial rate

By Susanna Moon

Chicago, Nov. 15 – HSBC USA Inc. priced $16.67 million of callable step-up rate notes due Nov. 16, 2021, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be 2% for the first two years, stepping up to 2.25% on Nov. 16, 2018, to 2.625% on Nov. 16, 2019 and to 3% on Nov. 16, 2020. Interest is payable quarterly.

The payout at maturity will be par.

The notes are callable at par after one year.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Callable step-up rate notes
Amount:	$16,666,000
Maturity:	Nov. 16, 2021
Coupon:	2% initially, stepping up to 2.25% on Nov. 16, 2018, to 2.625% on Nov. 16, 2019 and to 3% on Nov. 16, 2020; payable quarterly
Price:	Par
Payout at maturity:	Par
Call option:	At par on any quarterly date beginning Nov. 16, 2017
Pricing date:	Nov. 10
Settlement date:	Nov. 16
Agent:	HSBC Securities (USA) Inc.
Fees:	0.515%
Cusip:	40433UZT6

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