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HSBC USA Inc., Adj Rate Dep Shares Cumul Preferred Stock, Series D
Ticker Symbol: HUSI-D* CUSIP: 40428H706 Exchange: NYSE
* NOTE: This security is no longer trading as of 6/26/2015
Security has been Called for: Friday, June 26, 2015
5/27/2015 -- HSBC USA Inc. is announcing the redemption, in whole, of the following preferred series:
· 6,000,000 depositary shares each representing a one-fourth interest in a share of Adjustable Rate Cumulative Preferred Stock, Series D (ticker symbol: HUSI-PR D); and
· 3,000,000 shares of $2.8575 Cumulative Preferred Stock (ticker symbol: HUSI-PR Z).
The preferred securities are listed on the New York Stock Exchange under the above ticker symbols. The redemption date for each series of preferred is June 26, 2015. The cash redemption price payable for each series of preferred on the redemption date will equal:
· For the 6,000,000 depositary shares, $25 liquidation preference per depositary share (which is equivalent to $100 liquidation preference per share of Adjustable Rate Cumulative Preferred Stock, Series D), plus an amount equal to the accrued and accumulated but unpaid dividends thereon to but excluding the redemption date; and
· For the 3,000,000 shares of $2.8575 Cumulative Preferred Stock, $50 liquidation preference per share, plus an amount equal to the dividends accrued and accumulated but unpaid to the redemption date.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: HSBC USA, Inc., formerly Republic New York Corp., Depositary Shares each representing a 1/4 interest in a share of Adjustable Rate Cumulative Preferred Stock, Series D, stated value $25 per depositary share, redeemable at the issuer's option on or after 7/01/1999 at $25 per depositary share plus accrued and unpaid dividends, with no stated maturity, and with adjustable rate distributions paid quarterly on 1/1, 4/1, 7/1 & 10/1 to holders of record on 12/15, 3/15, 6/15 & 9/15 respectively (NOTE: the ex-dividend date is at least 2 business days prior to the record date). The adjustable rate dividend is set quarterly and is equal to 81% of the highest of the Treasury Bill Rate, the Ten Year Constant Maturity Rate and the Thirty Year Constant Maturity Rate with a minimum rate of 4 1/2% per annum and maximum rate of 10 1/2% per annum. Dividends paid by this preferred security are eligible for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions) and are also eligible for the dividends received deduction for corporate holders. In regards to payment of dividends and upon liquidation, the preferred shares rank equally with other preferreds and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below. USBC USA (formerly Republic New York Corp.) is a subsidiary of HSBC North America Inc. which in turn is an indirect subsidiary of HSBC Holdings plc (NYSE: HSBC).
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Go to Parent Company's Record (HSBC)
IPO - 5/18/1994 - 6.00 Million Shares @ $25.00/share.
Link to IPO Prospectus
Previous Ticker Symbol: HBA-D Changed: 11/15/2013
Market Value $134.0 Million
Company's Online Information Links
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Company's Online SEC EDGAR Filings |
Company's Email Address Links |
Foreign Address and Phone Numbers |
Address: 8 Canada Square, London E14 5HQ, United Kingdon |
Main Phone Number |
+44-20-7991-8888 |
Inv Rel Phone Number
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+44-20-7991-8041 |
Address and Phone Numbers |
U.S. Representative |
HSBC North America Holdings Inc. |
Address: 26525 N. Riverwoods Boulevard, Mettawa, IL 60045 |
Main Phone Number |
224-544-4400 |
Fax Number |
847-383-3331 |
Investor Relations
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224-880-8008
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Toll Free Phone Number |
Unknown |
CEO - Stuart Gulliver |
FN - Iain Mackay |
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