By Sarah Lizee
Olympia, Wash., Oct. 17 – HSBC USA Inc. priced $2 million of floating-rate notes due Oct. 18, 2021 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 75 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.
|
| Issue: | Floating-rate notes
|
| Underlying index: | Consumer Price Index
|
| Amount: | $2 million
|
| Maturity: | Oct. 18, 2021
|
| Coupon: | Year-over-year change in index plus 75 bps, subject to minimum rate of 0%; payable monthly
|
| Price: | Par
|
| Payout at maturity: | Par
|
| Pricing date: | Oct. 15
|
| Settlement date: | Oct. 18
|
| Underwriter: | HSBC Securities (USA) Inc.
|
| Fees: | 0.5%
|
| Cusip: | 40435F5P8
|
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