Published on 2/27/2018 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $7.87 million floating-rate notes due 2025 linked to CPI
By Sarah Lizee
Olympia, Wash., Feb. 27 – HSBC USA Inc. priced $7.87 million of floating-rate notes due Feb. 28, 2025 linked to the Consumer Price Index, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is equal to the year-over-year change in the index plus 50 basis points, subject to a minimum interest rate of 0%. Interest is payable monthly.
The payout at maturity will be par.
HSBC Securities (USA) Inc. is the underwriter.
Issuer: | HSBC USA Inc.
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Issue: | Floating-rate notes
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Underlying index: | Consumer Price Index
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Amount: | $7,872,000
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Maturity: | Feb. 28, 2025
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Coupon: | Year-over-year change in index plus 50 bps, subject to minimum rate of 0%; payable monthly
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Price: | Par
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Payout at maturity: | Par
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Pricing date: | Feb. 23
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Settlement date: | Feb. 28
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Underwriter: | HSBC Securities (USA) Inc.
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Fees: | 1.9% and 0.5%
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Cusip: | 40435FTX5
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