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HSBC plans five-year callable step-up rate notes with 2.25% initial rate
By Sarah Lizee
Olympia, Wash., Jan. 8 – HSBC USA Inc. plans to price callable step-up rate notes due Jan. 31, 2023, according to an FWP filing with the Securities and Exchange Commission.
Interest will be 2.25% for the first two years, stepping up to 2.75% on Jan. 31, 2020, to 3.25% on Jan. 31, 2021 and to 4.25% on Jan. 31, 2023. Interest is payable semiannually.
The notes are callable in whole on any semiannual date beginning on Jan. 31, 2020.
The payout at maturity will be par.
HSBC Securities (USA) Inc. is the agent.
The notes will price on Jan. 26 and settle on Jan. 31.
The Cusip number is 40435FRG4.
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