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HSBC plans 10-year callable step-up notes with 2.1% initial rate
By Marisa Wong
Madison, Wis., Jan. 22 – HSBC USA Inc. plans to price callable step-up rate notes due Feb. 6, 2025, according to an FWP filing with the Securities and Exchange Commission.
Interest will be 2.1% initially and will step up to 4.05% on Feb. 6, 2020. Interest will be payable semiannually.
The payout at maturity will be par.
The notes will be callable at par on Feb. 6, 2020.
HSBC Securities (USA) Inc. is the underwriter.
The notes will settle on Feb. 6.
The Cusip number is 40433BYH5.
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