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HSBC plans five-year callable step-up notes with 2.25% initial rate
By Wendy Van Sickle
Columbus, Ohio, Dec. 5 – HSBC USA Inc. plans to price callable step-up notes due Dec. 16, 2021, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 2.25% until June 16, 2019, when it will step up to 3.25% through maturity. Interest is payable quarterly.
The payout at maturity will be par.
The notes will be callable at par on June 16, 2019.
HSBC Securities (USA) Inc. is the agent.
The notes will price on Dec. 13 and settle on Dec. 16.
The Cusip number is 40433UE28.
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