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HSBC plans five-year callable step-up notes with 3% initial rate
By Angela McDaniels
Tacoma, Wash., Feb. 5 – HSBC USA Inc. plans to price callable step-up rate notes due Feb. 20, 2024, according to an FWP filing with the Securities and Exchange Commission.
The interest rate will be 3% in years one and two, 3.35% in year three, 3.8% in year four and 4.5% in year five. Interest will be payable semiannually.
Beginning Feb. 20, 2020, the notes will be callable every six months.
The payout at maturity will be par.
HSBC Securities (USA) Inc. is the agent.
The notes will price Feb. 14.
The Cusip number is 40435UGC2.
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