Published on 5/1/2018 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $10.88 million callable step-up notes with 3% initial rate
By Sarah Lizee
Olympia, Wash., May 1 – HSBC USA Inc. priced $10.88 million of callable step-up rate notes due May 2, 2023, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 3% initially, stepping up to 3.4% on May 2, 2020, to 3.8% on May 2, 2021 and to 4.2% on May 2, 2022. Interest is payable semiannually.
The notes are callable in whole on any semiannual date beginning on May 2, 2020.
The payout at maturity will be par.
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: | $10,882,000
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Maturity: | May 2, 2023
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Coupon: | 3% initially, stepping up to 3.4% on May 2, 2020, to 3.8% on May 2, 2021 and to 4.2% on May 2, 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 May 2, 2020
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Pricing date: | April 27
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Settlement date: | May 2
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0.624%
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Cusip: | 40435FWK9
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