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HSBC to price five-year callable step-up notes with 3% initial rate
By Sarah Lizee
Olympia, Wash., March 27 – HSBC USA Inc. plans to price callable step-up rate notes due April 11, 2023, according to an FWP filing with the Securities and Exchange Commission.
Interest will be 3% initially, stepping up to 3.25% on April 11, 2020, to 3.75% on April 11, 2021 and to 4.25% on April 11, 2022. Interest is payable semiannually.
The notes are callable in whole on any semiannual date beginning on April 11, 2020.
The payout at maturity will be par.
HSBC Securities (USA) Inc. is the agent.
The notes will price on April 6 and settle on April 11.
The Cusip number is 40435FXX0.
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