HSBC Bank USA, N.A. and Affiliates Raise Prime and Reference Rate

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HSBC Bank USA raises prime and reference rate to 8.50% from 8.25%

NEW YORK--(BUSINESS WIRE)-- HSBC Bank USA, N.A., and its affiliates announced today that they have raised their prime and reference rate to 8.50% from 8.25%, effective tomorrow.

About HSBC

HSBC USA Inc. ("HUSI") is a Maryland corporation and its principal business is to act as a holding company for its subsidiaries including HSBC Bank USA, N.A. Through HSBC Bank USA, N.A. and its subsidiaries, HUSI offers a full range of traditional banking products and services to individuals, including high net worth individuals, small businesses, corporations, institutions and governments. HSBC USA Inc. is a wholly-owned subsidiary of HSBC North America Holdings Inc.

HSBC Holdings plc, the parent company of HSBC, is headquartered in London. HSBC serves customers worldwide from offices in 62 countries and territories in its geographical regions: Europe, Asia, North America, Latin America, and Middle East and North Africa. With assets of $2,990bn at 31 March 2023, HSBC is one of the world’s largest banking and financial services organisations.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230726400028/en/

Media enquiries to:



Jack Mullin

External Communications

Jack.f.mullin@us.hsbc.com

Source: HSBC Bank USA, N.A.

FAQ

What is the prime and reference rate of HSBC Bank USA now?

The prime and reference rate of HSBC Bank USA is now 8.50%.

When will the new rate be effective?

The new rate will be effective from tomorrow.

What was the previous prime and reference rate?

The previous prime and reference rate was 8.25%.