REG - HSBC Holdings PLC - Update on pref securities and subordinated notes

HSBC HoldingsAnnouncement

27/09/2024 11:30

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RNS Number : 0367G  HSBC Holdings PLC  27 September 2024

 

27 September 2024

HSBC HOLDINGS PLC

US$900,000,000 10.176% Non-cumulative Step-up Perpetual Preferred Securities
(Series 2) issued by HSBC Capital Funding (Dollar 1) L.P. having the benefit
of a subordinated guarantee of HSBC Holdings plc (ISIN Codes: US40427LAB09 and
USG4637HAB45) (the 'USD Jersey Preferred Securities')

US$900,000,000 10.176% Subordinated Step-up Cumulative Notes due 2040 issued
by HSBC Holdings plc (ISIN Code: XS0110631016) (the 'USD Subordinated Notes')

HSBC BANK PLC

£700,000,000 5.844% Non-cumulative Step-up Perpetual Preferred Securities
issued by HSBC Bank Capital Funding (Sterling 1) L.P. having the benefit of a
subordinated guarantee of HSBC Bank plc (ISIN Code: XS0179407910) (the 'GBP
Jersey Preferred Securities')

£700,000,000 Fixed/Floating Subordinated Note due 2048 issued by HSBC Bank
plc (ISIN Code: XS0179766059) (the 'GBP Subordinated Notes')

Further to the publication today by HSBC Capital Funding (Dollar 1) L.P.
acting by HSBC (General Partner) Limited of a redemption notice in relation to
its USD Jersey Preferred Securities and the related publication by HSBC
Holdings plc of a redemption notice in relation to its USD Subordinated Notes
(being the internal subordinated notes underlying the USD Jersey Preferred
Securities), no action is being taken at this time by HSBC Bank plc in respect
of its outstanding GBP Subordinated Notes (being the internal subordinated
notes underlying the GBP Jersey Preferred Securities) or by HSBC Bank (General
Partner) Limited in respect of its outstanding GBP Jersey Preferred
Securities.

Over time, the HSBC group (the 'Group') will continue to evaluate its options
to further reduce its volume of legacy securities, including the GBP Jersey
Preferred Securities and the associated GBP Subordinated Notes, in line with
its previously communicated approach. The Group expects to evaluate
opportunities to reduce its legacy securities against a desire that decisions
are taken where they present a reasonable economic cost and are appropriate
and proportionate in the circumstances.

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Investor enquiries to:

Greg Case                            +44 (0) 20
7992 3825                   investorrelations@hsbc.com

 

Media enquiries to:

Press Office                          +44 (0) 20 7991
8096                         pressoffice@hsbc.com

Note to editors:

 

HSBC Holdings plc

 

HSBC Holdings plc, the parent company of HSBC, is headquartered in London.
HSBC serves customers worldwide from offices in 60 countries and territories.
With assets of US$2,975bn at 30 June 2024, HSBC is one of the world's largest
banking and financial services organisations.

 

The securities referred to in this announcement have not been and will not be
registered under the United States Securities Act of 1933, as amended (the
'Securities Act'), or any state securities laws and, unless so registered, may
not be offered or sold within the United States or to, or for the account or
the benefit of, US persons, as defined in Regulation S under the Securities
Act, except pursuant to an exemption from or in a transaction not subject to
the registration requirements of the Securities Act and in compliance with any
applicable state securities laws.

 

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