REG - HSBC ETFs PLC - Delisting of Sub-Fund

Euronext NVAnnouncement

02/05/2023 13:00

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RNS Number : 1308Y  HSBC ETFs PLC  02 May 2023

This document is important and requires your immediate attention. If you are
in doubt as to the action you should take you should seek advice from your
stockbroker, bank manager, solicitor, accountant or other independent
financial adviser. If you have sold or transferred all of your shares in the
Fund referred to below, please pass this Circular at once to the purchaser or
transferee or to the stockbroker, bank or other agent through whom the sale or
transfer was effected for transmission to the purchaser or transferee as soon
as possible.

 

This document has not been reviewed by the Central Bank of Ireland (the
"Central Bank") and it is possible that changes thereto may be necessary to
meet the Central Bank's requirements. The board of directors of the Company
(the "Directors") accepts responsibility for the information contained in this
Circular.

 

 

2 May 2023

 

HSBC ETFs plc (the "Company")

 

 

 

Delisting of Sub-Fund

 

 

 

 

Dear Shareholder,

 

We refer to HSBC BLOOMBERG USD SUSTAINABLE CORPORATE BOND UCITS ETF
 IE00BKY81627  (the "Fund"), a fund of the Company, of which you are a
shareholder.

 

Closure of the Fund

 

The purpose of this letter is to advise you of the closure of the Fund which
is due to take place on 2 June 2023 (the "Closure Date").

 

In accordance with the provisions of the Company's prospectus and the articles
of association, the Directors have discretion to redeem all of the shares in
and terminate a fund if the total net asset value of that fund falls below
USD50 million.

 

As of the date of this letter, the Fund is below that threshold and,
therefore, the Directors have determined to compulsorily redeem the shares and
close the Fund with effect from the Closure Date.  In making this decision,
the Directors also considered the reduced level of investor demand for the
Fund and considered it unlikely that the net assets of the Fund would increase
sufficiently in the future to justify the continuation of the Fund.

 

Procedure for Closure

 

For secondary market orders, the last day for trading on each relevant stock
exchange on which the shares of the Fund are listed is 31 May 2023 (the "Final
Exchange Trading Date").

 

For primary market orders, the last day on which applications for redemptions
for shares in the Fund by Authorised Participants may be made is 1 June 2023
(the "Final Dealing Date").

 

The Fund will be de-listed from the stock exchanges on which the shares of the
Fund are listed on 1 June 2023* (the "Delisting Date").

 

*Please note that the delisting from the Official List of the Financial
Conduct Authority ("FCA") date for the London Stock Exchange will be 7 June
2023.

 

On the Closure Date, all shares will be compulsorily redeemed in accordance
with the terms of the prospectus and redemption proceeds, calculated as of the
Closure Date, will be remitted to shareholders within 10 business days.

 

Investors buying and selling shares through a broker or market
maker/Authorised Participant and/or investors who hold shares through a
nominee and/or clearing agent, may not appear in the Company's register of
shareholders. Such investors should deal directly with the relevant broker,
market maker/Authorised Participant, nominee or clearing agent (as relevant)
in respect to their investment.

 

Costs

 

Please be informed that all legal and administrative costs in relation to the
closure of the Fund will be borne by HSBC Global Asset Management Limited and
not the Fund.  The Fund will however incur the transaction costs associated
with liquidating the assets.

 

If you have any queries regarding the matters dealt with in this document,
please contact your sales representative or your professional advisor.

 

Tax considerations

 

The redemption of shares in the Fund will be deemed a disposal for capital
gains tax purposes and may give rise to a capital gains tax liability. If you
are in any doubt as to the tax consequences, you should contact your financial
or tax advisor.

 

 

Yours sincerely,

 

 

 

 

Director

For and on behalf of

HSBC ETFs plc

 

 

 

Further Information

  HSBC ETFs plc          25/28 North Wall Quay  +353 1 635 6000*

                         IFSC, Dublin 1

 J&E Davy (Sponsor)      Brian Garrahy          +353 1 679 6363*

 

 

Appendix

 

                        Final Exchange Trading Date  Final Dealing Date  Closure Date  Expected Delisting Date  Expected Settlement Date
 London Stock Exchange  31 May 2023                  1 June 2023         2 June 2023   7 June 2023              20 June 2023
 All other exchanges    31 May 2023                  1 June 2023         2 June 2023   1 June 2023              20 June 2023

 

            London Stock Exchange  Euronext Paris  Borsa Italiana  SIX      XETRA
 Bloomberg  HUDC LN HUSC LN        HUDC FP         HUDC IM         HUDC SW  HUSC GY

 Ticker

 

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