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HSBC to price callable step-up rate notes with 4% initial rate
By Angela McDaniels
Tacoma, Wash., June 10 - HSBC USA Inc. plans to price callable step-up rate notes due June 30, 2023, according to an FWP filing with the Securities and Exchange Commission.
The interest rate will be 4% in years one through four, 4.5% in years five through eight and 5% in years nine through 12. Interest is payable quarterly.
The payout at maturity will be par.
The notes will be callable at par on June 30, 2015 and June 30, 2019.
The notes (Cusip: 4042K1JY0) are expected to price June 17 and settle June 30.
HSBC Securities (USA) Inc. is the agent.
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