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HSBC plans three-year callable step-up notes with 0.875% initial rate
By Susanna Moon
Chicago, Jan. 23 - HSBC USA Inc. plans to price callable step-up notes due Feb. 7, 2017, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 0.875% initially, stepping up to 1.3% on Aug. 7, 2015. Interest is payable semiannually.
The payout at maturity will be par.
The notes will be callable at par in July 2015.
Bank of America Merrill Lynch is the agent.
The notes will price and settle in February.
The Cusip number is 40432XS77.
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