How to prepare for coffee chat?

Hi all. I'm an MD at a top BB (GS/ MS/ JPM). Yesterday a young man (obviously a rising star of the industry) requested to connect on LinkedIn whilst attaching a message to go for a coffee chat to learn more about IB.

How do I prepare for this networking chat? What's the dress code? Should I go business formal to be safe? Should I pay or would he find it inappropriate? What sort of questions should I prepare?

Also I was rlly busy yesterday so I didnt check my LinkedIn right away, so I only responded to his message today. Would that reflect badly on me? Would he take offence over this?Advice appreciated

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