Published on 4/21/2017 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $3 million callable step-up notes with 3% initial rate
By Susanna Moon
Chicago, April 21 – HSBC USA Inc. priced $3 million of callable step-up notes due April 21, 2027, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 3% for the first five years, stepping up to 3.25% on April 21, 2022, to 3.75% on April 21, 2023, to 4.25% on April 21, 2024, to 4.75% on April 21, 2025 and to 5.25% on April 21, 2026. Interest is payable semiannually.
The payout at maturity will be par.
The notes will be callable at par on any semiannual date beginning April 21, 2019.
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: | $3 million
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Maturity: | April 21, 2027
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Coupon: | 3% initially, stepping up to 3.25% on April 21, 2022, to 3.75% on April 21, 2023, to 4.25% on April 21, 2024, to 4.75% on April 21, 2025 and to 5.25% on April 21, 2026; payable semiannually
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Price: | Par
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Payout at maturity: | Par
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Call option: | At par on any semiannual date beginning April 21, 2019
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Pricing date: | April 18
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Settlement date: | April 21
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 1.466667%
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Cusip: | 40433U3D6
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