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HSBC plans five-year callable step-up notes with 3.125% start rate
By Sarah Lizee
Olympia, Wash., May 4 – HSBC USA Inc. plans to price callable step-up rate notes due May 23, 2023, according to an FWP filing with the Securities and Exchange Commission.
Interest will be 3.125% initially and step up to 4.125% on May 23, 2021. Interest is payable semiannually.
The notes are callable in whole on May 23, 2021.
The payout at maturity will be par.
HSBC Securities (USA) Inc. is the agent.
The notes will price on May 18 and settle on May 23.
The Cusip number is 40435FA56.
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