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HSBC plans 10-year callable step-up notes with 2.5% initial rate
By Marisa Wong
Madison, Wis., Oct. 8 – HSBC USA Inc. plans to price callable step-up rate notes due Oct. 22, 2024, according to an FWP filing with the Securities and Exchange Commission.
Interest will be 2.5% for the first five years and will step up to 4.25% on Oct. 22, 2019. Interest will be payable semiannually.
The payout at maturity will be par.
The notes will be callable at par on Oct. 22, 2019.
HSBC Securities (USA) Inc. is the underwriter.
The notes will price and settle in October.
The Cusip number is 40433BRD2.
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