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HSBC plans to price callable step-up notes with 2% initial rate
By Wendy Van Sickle
Columbus, Ohio, July 15 – HSBC USA Inc. plans to price callable step-up rate notes due July 29, 2021, according to an FWP filing with the Securities and Exchange Commission.
The interest rate is 2% a year to Jan. 29, 2019, stepping up to 2.25% through July 29, 2019, to 2.5% to Jan. 29, 2020, to 2.75% to July 29, 2020, to 3% to Jan. 29, 2021 and to 3.25% through maturity. Interest is payable semiannually.
The payout at maturity will be par.
The notes are callable at semiannually at par starting Jan. 29, 2019.
HSBC Securities (USA) Inc. is the agent.
The notes will price on July 26 and settle on July 29.
The Cusip number is 40433URS7.
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