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HSBC plans to price callable step-up notes with 0.75% initial rate
By Angela McDaniels
Tacoma, Wash., April 16 – HSBC USA Inc. plans to price callable step-up rate notes due May 4, 2018, according to an FWP filing with the Securities and Exchange Commission.
The interest rate will be 0.75% for the first 18 months and 2% for the final 18 months. Interest will be payable semiannually.
The payout at maturity will be par.
The notes will be redeemable in whole on Nov. 4, 2016.
HSBC Securities (USA) Inc. is the agent.
The notes will price in April and settle May 4.
The Cusip number is 40433BU22.
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