Published on 2/10/2017 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $282,000 callable step-up notes with 2.25% initial rate
By Marisa Wong
Morgantown, W.Va., Feb. 10 – HSBC USA Inc. priced $282,000 of callable step-up notes due Feb. 8, 2022, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 2.25% for the first year, stepping up to 2.55% on Feb. 8, 2018, to 2.85% on Feb. 8, 2019, to 3.15% on Feb. 8, 2020 and to 3.45% on Feb. 8, 2021. Interest is payable quarterly.
The payout at maturity will be par.
After one year, the notes will be callable quarterly at par.
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: | $282,000
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Maturity: | Feb. 8, 2022
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Coupon: | 2.25% for the first year, stepping up to 2.55% on Feb. 8, 2018, to 2.85% on Feb. 8, 2019, to 3.15% on Feb. 8, 2020 and to 3.45% on Feb. 8, 2021; payable quarterly
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Price: | Par
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Payout at maturity: | Par
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Call option: | After one year, quarterly at par
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Pricing date: | Feb. 3
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Settlement date: | Feb. 8
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0.6%
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Cusip: | 40433UM37
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