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HSBC plans five-year callable step-up rate notes with 2% initial rate
By Wendy Van Sickle
Columbus, Ohio, Oct. 14 – HSBC USA Inc. plans to price 0% callable step-up rate notes due Oct. 26, 2021, according to an FWP filing with the Securities and Exchange Commission.
Interest will be 2% for the first two years, stepping up to 2.25% on Oct. 26, 2018, to 2.625% on Oct. 26, 2019 and to 3% on Oct. 26, 2020. Interest is payable semiannually.
The notes are callable on any semiannual date beginning on Oct. 26, 2017.
The payout at maturity will be par.
HSBC Securities (USA) Inc. is the agent.
The notes will price on Oct. 21 and settle on Oct. 26.
The Cusip number is 40433UXV3.
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