Published on 1/30/2018 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $665,000 callable step-up notes with 2.25% initial rate
By Sarah Lizee
Olympia, Wash., Jan. 30 – HSBC USA Inc. priced $665,000 of callable step-up rate notes due Jan. 31, 2023, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 2.25% initially, stepping up to 2.75% on Jan. 31, 2020, to 3.25% on Jan. 31, 2021 and to 4.25% on Jan. 31, 2022. Interest will be payable semiannually.
The payout at maturity will be par.
The notes will be callable in whole at par semiannually beginning Jan. 31, 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: | $665,000
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Maturity: | Jan. 31, 2023
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Coupon: | 2.25% initially, stepping up to 2.75% on Jan. 31, 2020, to 3.25% on Jan. 31, 2021 and to 4.25% on Jan. 31, 2022; payable semiannually
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Price: | Par
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Payout at maturity: | Par
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Call option: | In whole at par semiannually beginning Jan. 31, 2020
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Pricing date: | Jan. 26
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Settlement date: | Jan. 31
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0.5592%
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Cusip: | 40435FRG4
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