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HSBC plans to price callable step-up notes with 1% initial rate
By Angela McDaniels
Tacoma, Wash., July 1 – HSBC USA Inc. plans to price callable step-up rate notes due July 17, 2018, according to an FWP filing with the Securities and Exchange Commission.
The interest rate will be 1% 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 at par on Jan. 17, 2017.
HSBC Securities (USA) Inc. is the agent.
The notes will price settle July 17.
The Cusip number is 40433B3Z9.
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