Published on 11/15/2017 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $7.35 million five-year callable step-up notes with 2.25% initial rate
By Marisa Wong
Morgantown, W.Va., Nov. 15 – HSBC USA Inc. priced $7.35 million of callable step-up notes due Nov. 15, 2022, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 2.25% initially, stepping up to 3% on May 15, 2020. Interest will be payable semiannually.
The payout at maturity will be par.
The notes will be callable at par on May 15, 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: | $7,352,000
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Maturity: | Nov. 15, 2022
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Coupon: | 2.25% initially, stepping up to 3% on May 15, 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 May 15, 2020
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Pricing date: | Nov. 10
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Settlement date: | Nov. 15
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0.5151319%
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Cusip: | 40435FLJ4
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