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HSBC plans 12-year redeemable step-up notes with 3% initial rate
By Susanna Moon
Chicago, Oct. 16 – HSBC USA Inc. plans to price redeemable step-up notes due Oct. 26, 2029, according to a 424B2 filing with the Securities and Exchange Commission.
Interest will be 3% for the first three years, stepping up to 4% on Oct. 26, 2023 and to 5% on Oct. 26, 2027. Interest will be payable semiannually.
The payout at maturity will be par.
The notes will be callable at par on any interest payment date beginning Oct. 26, 2018.
HSBC Securities (USA) Inc. is the underwriter.
The notes will price on Oct. 23.
The Cusip number is 40435FJA6.
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