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HSBC plans five-year callable step-up notes with 1.25% initial rate
By Marisa Wong
Madison, Wis., Oct. 31 – HSBC USA Inc. plans to price callable step-up rate notes due Nov. 19, 2019, according to an FWP filing with the Securities and Exchange Commission.
Interest will be 1.25% initially and will step up to 3.15% on May 19, 2017. Interest will be payable semiannually.
The payout at maturity will be par.
The notes will be callable at par on May 19, 2017.
HSBC Securities (USA) Inc. is the underwriter.
The notes will settle on Nov. 19.
The Cusip number is 40433BTK4.
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