Published on 2/19/2019 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $16.29 million callable step-up notes with 3% initial rate
By Angela McDaniels
Tacoma, Wash., Feb. 19 – HSBC USA Inc. priced $16.29 million of callable step-up rate notes due Feb. 20, 2024, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 3% in years one and two, 3.35% in year three, 3.8% in year four and 4.5% in year five. Interest is payable semiannually.
The payout at maturity will be par.
The notes are callable at par every six months beginning Feb. 20, 2020.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
|
Issue: | Callable step-up rate notes
|
Amount: | $16,285,000
|
Maturity: | Feb. 20, 2024
|
Coupon: | 3% in years one and two, 3.35% in year three, 3.8% in year four and 4.5% in year five; payable semiannually
|
Price: | Par
|
Payout at maturity: | Par
|
Call option: | Every six months at par beginning Feb. 20, 2020
|
Pricing date: | Feb. 14
|
Settlement date: | Feb. 20
|
Agent: | HSBC Securities (USA) Inc.
|
Fees: | 0.612335%
|
Cusip: | 40435UGC2
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.