Published on 3/16/2017 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $646,000 callable step-up notes with 2.5% initial rate
By Wendy Van Sickle
Columbus, Ohio, March 16 – HSBC USA Inc. priced $646,000 of callable step-up notes due March 17, 2022, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 2.5% initially, stepping up to 3% on March 17, 2019, to 3.5% on March 17, 2020 and to 4% on March 17, 2021. Interest is payable quarterly.
The payout at maturity will be par.
The notes will be callable at par on any quarterly review date after two 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: | $646,000
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Maturity: | March 17, 2022
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Coupon: | 2.5% initially, stepping up to 3% on March 17, 2019, to 3.5% on March 17, 2020 and to 4% on March 17, 2021; payable quarterly
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Price: | Par
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Payout at maturity: | Par
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Call option: | At par on any quarterly review date beginning March 17, 2019
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Pricing date: | March 14
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Settlement date: | March 17
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0.584%
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Cusip: | 40433UX50
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