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HSBC to price callable step-up notes due 2028 with 3% initial rate
By Angela McDaniels
Tacoma, Wash., Dec. 20 – HSBC USA Inc. plans to price callable step-up rate notes due Dec. 28, 2028, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 3% for the first two years. Beginning Dec. 28, 2018, it will step up by 25 basis points each year, reaching 5.5% in the final year. Interest will be payable semiannually.
The payout at maturity will be par.
Beginning Dec. 28, 2017, the notes will be callable at par every six months.
HSBC Securities (USA) Inc. is the agent.
The notes will price Dec. 22.
The Cusip number is 40433UJ49.
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