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HSBC plans five-year callable step-up notes with 2% initial rate
By Susanna Moon
Chicago, April 19 – HSBC USA Inc. plans to price callable step-up notes due April 28, 2022, according to a 424B2 filing with the Securities and Exchange Commission.
The interest rate will be 2% for the two years, stepping up to 2.5% on April 28, 2019, to 3.25% on April 28, 2020 and to 4% on April 28, 2021. Interest will be payable semiannually.
The payout at maturity will be par.
The notes will be callable at par beginning April 28, 2018.
HSBC Securities (USA) Inc. is the agent.
The notes will price on April 25 and settle on April 28.
The Cusip number is 40433U3N4.
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