Shearman & Sterling represented HSBC Securities (USA) Inc. as lead manager of HSBC Bank USA, N.A.’s offering of $1.25 billion of 4.875% Subordinated Notes due 2020 under its global bank note program. HSBC Bank USA, N.A. provides a full-range of banking products and services to individuals, corporations, small businesses, institutions and governments through its personal financial services, commercial banking, private banking and global banking and markets segments. Its parent is HSBC USA Inc., an indirect, wholly-owned subsidiary of HSBC North America Holdings Inc., one of the largest bank holding companies in the United States by assets.

The following Shearman & Sterling attorneys advised the managers in this transaction: partners Stuart Fleischmann (New York-Capital Markets) and Danielle Carbone (New York-Capital Markets) and associates Stephen Ashley (New York-Capital Markets), Jason Gao (New York-Capital Markets), Ellen Shiels (New York-Capital Markets), Steven Blau (New York-Financial Institutions Advisory Group) and Alex Sundstrom (Washington D.C.-Tax).