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HSBC plans three-year callable step-up notes with 0.65% initial rate
By Susanna Moon
Chicago, June 27 – HSBC USA Inc. plans to price callable step-up rate notes due July 17, 2017, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 0.65% for the first 1.5 years. After that, it will step up to 1.4% in January 2016. Interest will be payable semiannually.
The payout at maturity will be par.
The notes will be callable at par on Jan. 17, 2016.
HSBC Securities (USA) Inc. is the underwriter.
The notes will settle on July 17.
The Cusip number is 40433BFC7.
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