New Issue: HSBC prices $1.4 million callable step-up notes with 3% initial rate

By Wendy Van Sickle

Columbus, Ohio, May 16 – HSBC USA Inc. priced $1.4 million of callable step-up notes due May 17, 2027, according to a 424B2 filing with the Securities and Exchange Commission.

The interest rate will be 3% for the first five years, stepping up to 3.25% on May 17, 2022, to 3.5% on May 17, 2023, to 3.75% on May 17, 2024, to 4% on May 17, 2025 and to 4.25% on May 17, 2026. Interest will be payable semiannually.

The payout at maturity will be par.

The notes will be callable semiannually at par beginning May 17, 2018.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Callable step-up rate notes
Amount:	$1.4 million
Maturity:	May 17, 2027
Coupon:	3% for the first five years, stepping up to 3.25% on May 17, 2022, to 3.5% on May 17, 2023, to 3.75% on May 17, 2024, to 4% on May 17, 2025 and to 4.25% on May 17, 2026; payable semiannually
Price:	Par
Payout at maturity:	Par
Call option:	At par semiannually beginning May 17, 2018
Pricing date:	May 12
Settlement date:	May 17
Agent:	HSBC Securities (USA) Inc.
Fees:	1.536%
Cusip:	40433U4W3

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