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HSBC plans three-year callable step-up notes with 2.1% initial rate
By Wendy Van Sickle
Columbus, Ohio, March 27 – HSBC USA Inc. plans to price callable step-up notes due April 6, 2020, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 2.1% until Oct. 6, 2018, when it will step up to 2.6 % until maturity. Interest is payable quarterly.
The payout at maturity will be par.
The notes will be callable at par on Oct.6, 2018.
HSBC Securities (USA) Inc. is the agent.
The notes will price on April 3 and settle on April 6.
The Cusip number is 40433UZ66.
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