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HSBC to price five-year callable step-up notes with 3% initial rate
By Sarah Lizee
Olympia, Wash., April 17 – HSBC USA Inc. plans to price callable step-up rate notes due May 2, 2023, according to an FWP filing with the Securities and Exchange Commission.
Interest will be 3% initially, stepping up to 3.4% on May 2, 2020, to 3.8% on May 2, 2021 and to 4.2% on May 2, 2022. Interest is payable semiannually.
The notes are callable in whole on any semiannual date beginning on May 2, 2020.
The payout at maturity will be par.
HSBC Securities (USA) Inc. is the agent.
The notes will price on April 27 and settle on May 2.
The Cusip number is 40435FWK9.
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