New Issue: HSBC prices $13.71 million callable step-up notes with 3.125% start rate

By Wendy Van Sickle

Columbus, Ohio, Oct. 26 – HSBC USA Inc. priced $13.71 million of callable step-up rate notes due Oct. 29, 2021, according to a 424B2 filing with the Securities and Exchange Commission.

Interest will be 3.125% initially, stepping up to 3.5% on Oct. 29, 2019 and to 3.875% on Oct. 29, 2020. Interest is payable semiannually.

The notes are callable in whole on each semiannual call payment date beginning on Oct. 29, 2019.

The payout at maturity will be par.

HSBC Securities (USA) Inc. is the agent.

Issuer:	HSBC USA Inc.
Issue:	Callable step-up rate notes
Amount:	$13,705,000
Maturity:	Oct. 29, 2021
Coupon:	3.125% initially, stepping up to 3.5% on Oct. 29, 2019 and to 3.875% on Oct. 29, 2020; payable semiannually
Price:	Par
Payout at maturity:	Par
Call option:	In whole at par semiannually beginning Oct. 29, 2019
Pricing date:	Oct. 25
Settlement date:	Oct. 29
Agent:	HSBC Securities (USA) Inc.
Fees:	0.2510215%
Cusip:	40435F5Y9

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