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HSBC to price callable step-up notes due 2021 with 3% start rate
By Sarah Lizee
Olympia, Wash., Aug. 16 – HSBC USA Inc. plans to price callable step-up rate notes due Aug. 30, 2021, according to an FWP filing with the Securities and Exchange Commission.
Interest will be 3% initially, stepping up to 3.2% on Aug. 28, 2019 and to 3.4% on Aug. 28, 2020. Interest is payable semiannually.
The notes are callable in whole on each semiannual call payment date beginning on Aug. 28, 2019.
The payout at maturity will be par.
HSBC Securities (USA) Inc. is the agent.
The notes will price on Aug. 23 and settle on Aug. 28.
The Cusip number is 40435FX36.
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