Published on 6/11/2018 in the Prospect News Structured Products Daily.
New Issue: HSBC sells $180,000 callable step-up notes due 2023 with 3% start rate
By Sarah Lizee
Olympia, Wash., June 11 – HSBC USA Inc. priced $180,000 of callable step-up rate notes due June 13, 2023, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 3% initially, stepping up to 3.4% on June 13, 2020, to 3.8% on June 13, 2021 and to 4.2% on June 13, 2022. Interest is payable semiannually.
The notes are callable in whole on each semiannual call payment date beginning on June 13, 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: | $180,000
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Maturity: | June 13, 2023
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Coupon: | 3% initially, stepping up to 3.4% on June 13, 2020, to 3.8% on June 13, 2021 and to 4.2% on June 13, 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 June 13, 2020
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Pricing date: | June 8
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Settlement date: | June 13
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0.625%
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Cusip: | 40435FG68
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