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HSBC plans to price callable step-up notes with 1.5% initial rate
New York, June 10 – HSBC USA Inc. plans to price callable step-up rate notes due June 22, 2021, according to an FWP filing with the Securities and Exchange Commission.
The interest rate is 1.5% in year one, 1.9% in year two, 2.3% in year three, 2.7% in year four and 3.1% 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 starting June 22, 2017.
HSBC Securities (USA) Inc. is the agent.
The notes will price on June 17 and settle on June 22.
The Cusip number is 40433UPQ3.
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