By Wendy Van Sickle
Columbus, Ohio, Aug. 8 – HSBC USA Inc. priced $1.05 million of leveraged steepener notes due Aug. 9, 2023 linked to the 30-year Constant Maturity Swap rate and the two-year Constant Maturity Swap rate, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be fixed at 4% for the first year. After that, the interest rate will be 7.5 times the spread of the 30-year CMS rate over the two-year CMS rate. Interest is payable quarterly and cannot be less than zero.
The payout at maturity will be par.
HSBC Securities (USA) Inc. is the agent.
| Issuer: | HSBC USA Inc.
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| Issue: | Leveraged steepener notes
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| Underlying rates: | 30-year and two-year Constant Maturity Swap rates
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| Amount: | $1.05 million
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| Maturity: | Aug. 9, 2023
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| Coupon: | 4% for first year; after that, 7.5 times spread of 30-year CMS rate over two-year CMS rate; payable quarterly
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| Price: | Par
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| Payout at maturity: | Par
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| Pricing date: | Aug. 6
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| Settlement date: | Aug. 9
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| Agent: | HSBC Securities (USA) Inc.
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| Fees: | 1%
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| Cusip: | 40435FH91
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