Published on 3/7/2019 in the Prospect News Structured Products Daily.
New Issue: HSBC prices $3.96 million callable step-up notes with 3% initial rate
By Sarah Lizee
Olympia, Wash., March 7 – HSBC USA Inc. priced $3.96 million of callable step-up rate notes due March 11, 2024, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 3% initially, stepping up to 3.75% on March 11, 2022 and to 5% on March 11, 2023. Interest is payable semiannually.
The payout at maturity will be par.
The notes are callable at par every six months beginning March 11, 2020.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
|
Issue: | Callable step-up rate notes
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Amount: | $3,959,000
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Maturity: | March 11, 2024
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Coupon: | 3% initially, stepping up to 3.75% on March 11, 2022 and to 5% on March 11, 2023; payable semiannually
|
Price: | Par
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Payout at maturity: | Par
|
Call option: | Every six months at par beginning March 11, 2020
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Pricing date: | March 6
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Settlement date: | March 11
|
Agent: | HSBC Securities (USA) Inc.
|
Fees: | 0.6021091%
|
Cusip: | 40435UGR9
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