Published on 3/23/2017 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $2 million callable step-up notes with 3.25% initial rate
By Wendy Van Sickle
Columbus, Ohio, March 23 – HSBC USA Inc. priced $2 million of callable step-up notes due March 24, 2027, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 3.25% initially, stepping up to 3.75% on March 24, 2022, to 4.25% on March 24, 2025 and to 5% on March 24, 2026. Interest is payable semiannually.
The payout at maturity will be par.
The notes will be callable at par on any semiannual review date after a year.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
|
Issue: | Callable step-up rate notes
|
Amount: | $2 million
|
Maturity: | March 24, 2027
|
Coupon: | 3.25% initially, stepping up to 3.75% on March 24, 2022, to 4.25% on March 24, 2025 and to 5% on March 24, 2026; payable semiannually
|
Price: | Par
|
Payout at maturity: | Par
|
Call option: | At par on any semiannual review date beginning March 24, 2018
|
Pricing date: | March 21
|
Settlement date: | March 24
|
Agent: | HSBC Securities (USA) Inc.
|
Fees: | 1.615%
|
Cusip: | 40433UW51
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.