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HSBC plans five-year callable step-up notes with 2% initial rate
By Susanna Moon
Chicago, Nov. 3 – HSBC USA Inc. plans to price callable step-up notes due Nov. 16, 2021, according to a 424B2 filing with the Securities and Exchange Commission.
The coupon will be 2% for the first two years, stepping up to 2.25% on Nov. 16, 2018, to 2.625% on Nov. 16, 2019 and to 3% on Nov. 16, 2020. Interest is payable quarterly.
The payout at maturity will be par.
The notes will be callable at par quarterly beginning in November 2017.
HSBC Securities (USA) Inc. is the agent.
The notes will price on Nov. 10 and settle on Nov. 16.
The Cusip number is 40433UZT6.
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