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HSBC to price callable step-up notes due 2023 with 3% initial rate
By Sarah Lizee
Olympia, Wash., May 30 – HSBC USA Inc. plans to price callable step-up rate notes due June 13, 2023, according to an FWP filing with the Securities and Exchange Commission.
Interest will be 3% initially, stepping up to 3.4% on June 13, 2020, to 3.8% on June 13, 2021 and to 4.2% on June 13, 2022. Interest is payable semiannually.
The notes are callable in whole on each semiannual call payment date beginning on June 13, 2020.
The payout at maturity will be par.
HSBC Securities (USA) Inc. is the agent.
The notes will price on June 8 and settle on June 13.
The Cusip number is 40435FG68.
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