By Marisa Wong
Morgantown, W.Va., Sept. 9 – HSBC USA Inc. priced $2.05 million of callable step-up rate notes due Sept. 9, 2019, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate is 1.05% for the first year, stepping up to 2% for year two and to 3% for year three. Interest is payable semiannually.
The payout at maturity will be par.
The notes are callable semiannually at par starting Sept. 9, 2017.
HSBC Securities (USA) Inc. is the agent.
Issuer: | HSBC USA Inc.
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Issue: | Callable step-up rate notes
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Amount: | $2.05 million
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Maturity: | Sept. 9, 2019
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Coupon: | 1.05% for the first year, stepping up to 2% for year two and to 3% for year three; payable semiannually
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Price: | Par
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Payout at maturity: | Par
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Call option: | At par on any semiannual coupon payment date beginning Sept. 9, 2017
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Pricing date: | Sept. 2
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Settlement date: | Sept. 9
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Agent: | HSBC Securities (USA) Inc.
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Fees: | 0.3%
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Cusip: | 40433UTS5
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