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HSBC plans to sell 12-year callable step-up notes with 4% initial rate
By Marisa Wong
Madison, Wis., Nov. 30 - HSBC USA Inc. plans to price callable step-up rate notes due Dec. 19, 2023, according to an FWP filing with the Securities and Exchange Commission.
The coupon will be 4% for the first five years and will step up to 5% on Dec. 19, 2016. Interest is payable monthly.
The payout at maturity will be par.
The notes will be callable in whole at par on Dec. 19, 2016.
The notes (Cusip: 4042K1TY9) will settle on Dec. 19.
HSBC Securities (USA) Inc. is the agent.
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