HSBC plans three-year callable step-up notes with 2% initial rate

By Wendy Van Sickle

Columbus, Ohio, Feb. 9 – HSBC USA Inc. plans to price callable step-up notes due Feb. 8, 2022, according to a 424B2 filing with the Securities and Exchange Commission.

The coupon will be 2% until Aug. 21, 2018, when it will step up to 2.5% until maturity. Interest is payable quarterly.

The payout at maturity will be par.

The notes will be callable at par in August 2018.

HSBC Securities (USA) Inc. is the agent.

The notes will price on Feb. 15 and settle on Feb. 21.

The Cusip number is 40433UR57.

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