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HSBC plans to price callable step-up notes with 1.5% initial rate
By Wendy Van Sickle
Columbus, Ohio, May 11 – HSBC USA Inc. plans to price callable step-up rate notes due May 25, 2021, according to an FWP filing with the Securities and Exchange Commission.
The interest rate is 1.5% in year one, 1.75% in year two, 2.15% in year three, 2.65% in year four and 2.35% in year five. Interest is payable semiannually.
The payout at maturity will be par.
The notes are callable at par on May 25 and Nov. 25 of each year.
HSBC Securities (USA) Inc. is the agent.
The notes will price May 20.
The Cusip number is 40433UMU7.
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