Published on 5/16/2017 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $5.62 million callable step-up notes with 2% initial rate
By Wendy Van Sickle
Columbus, Ohio, May 16 – HSBC USA Inc. priced $5.62 million of callable step-up notes due May 18, 2022, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 2% for the first two years, stepping up to 2.5% on May 18, 2019, to 3.25% on May 18, 2020 and to 4% on May 18, 2021. Interest will be payable semiannually.
The payout at maturity will be par.
The notes will be callable semiannually at par beginning May 18, 2018.
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: | $5,623,000
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Maturity: | May 18, 2022
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Coupon: | 2% for the first two years, stepping up to 2.5% on May 18, 2019, to 3.25% on May 18, 2020 and to 4% on May 18, 2021; payable semiannually
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Price: | Par
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Payout at maturity: | Par
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Call option: | At par semiannually beginning May 18, 2018
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Pricing date: | May 15
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Settlement date: | May 18
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0.597955%
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Cusip: | 40433U5H5
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