Published on 7/6/2017 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $395,000 five-year callable step-up notes with 2% initial rate
By Susanna Moon
Chicago, July 6 – HSBC USA Inc. priced $395,000 of callable step-up notes due June 16, 2022, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 2% for the first three years, stepping up to 3.35% on June 16, 2020. Interest will be payable semiannually.
The payout at maturity will be par.
The notes will be callable at par on June 16, 2020.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
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| Issue: | Callable step-up notes
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| Amount: | $395,000
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| Maturity: | June 16, 2022
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| Coupon: | 2% initially, stepping up to 3.35% on June 16, 2020; 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 June 16, 2020
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| Pricing date: | June 13
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| Settlement date: | June 16
|
| Agent: | HSBC Securities (USA) Inc.
|
| Fees: | 0.625%
|
| Cusip: | 40433U7F7
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