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HSBC plans five-year callable step-up notes with 2.25% initial rate
By Wendy Van Sickle
Columbus, Ohio, Jan. 27 – HSBC USA Inc. plans to price callable step-up notes due Feb. 8, 2022, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 2.25% for the first year, stepping up to 2.55% on Feb. 8, 2018, to 2.85% on Feb. 8, 20020 to 3.15% on Feb. 8, 2021 and to 3.45% on Feb. 8, 2022. Interest is payable quarterly.
The payout at maturity will be par.
The notes will be callable quarterly at par beginning on Feb. 8, 2018.
HSBC Securities (USA) Inc. is the agent.
The notes will price on Feb. 3 and settle on Feb. 8.
The Cusip number is 40433UM37.
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