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HSBC USA to price callable Libor range accrual notes
By Jennifer Chiou
New York, Feb. 25 - HSBC USA Inc. plans to price callable Libor range accrual notes due March 6, 2023, according to an FWP filing with the Securities and Exchange Commission.
Interest will be payable quarterly and will accrue at the 9.2% base rate multiplied by the proportion of days that six-month Libor is between 0% and 6.5% inclusive.
The notes will be callable at par on any interest payment date.
If the notes are not called early, the payout at maturity will be par.
The notes will price on March 3 and settle on March 6.
HSBC Securities (USA) Inc. is the agent.
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