HSBC 6.875% Perpetual Corp (USD)

Bond Factsheet

Matured/ Called

HSBC Holdings PLC

Indicative

Full Lot

Bid Price

100.056

Change in Bid Price

remove 0.015

Bid Yield (%)

6.876 %

Change in Bid Yield

0.004

Ask Price

100.226

Change in Ask Price

remove 0.018

Ask Yield (%)

6.834 %

Change in Ask Yield

0.004

Indicative price as of 03 Jun 2021, 12:00am

chevron_leftchevron_right

Bond Information

HSBC Holdings PLC operates as a holding company. The Company, through its subsidiaries, provides personal and corporate banking, trade, investments, loans, mortgages, securities, custody, capital markets, treasury, insurance, and financial services. HSBC Holdings serves customers worldwide.

Bond Issuer

HSBC Holdings PLC

Guarantor

Announcement Date

24 May 2016

Issue Date

01 Jun 2016

Maturity Date

Perpetual

Years to Maturity / Next Call

Perpetual / 4.657

Modified Duration

Issue / Reoffer Price

100.000

Issue / Reoffer Yield

6.875

Coupon Type

Variable

Annual Coupon Rate

6.875

Coupon Frequency

Semi Annually

Seniority

Junior Subordinated

Capital Structure

Junior Subordinated

Reference Rate

-Reset Rate = US Mid-Swap + 551.4bps
Reset Date = 01Jun2021 & every 5y thereafter

ISIN

US404280BC26

CUSIP

LW2088877

Bond Currency

USD

Total Issue Size

Outstanding Issue Size

2,000,000,000

Min. Investment Quantity (Nominal)

USD 200,000

Incremental Quantity (Nominal)

USD 1,000

Bond Type

Corporate

Bond Sector

Financials

Bond Sub Sector

Banks

Issuer Credit Rating (S&P/ Fitch)

***/ A+

Bond Credit Rating (S&P/ Fitch)

***/ BBB

Shariah Compliant

Exchange Listed

Others

Bond Feature(s)

Loss Absorption

A "Capital Adequacy Trigger Event"; will occur if at any time the end-point CET1 Ratio is less than 7.0%. Whether a Capital Adequacy Trigger Event has occurred at any time will be determined by HSBC Holdings, the Relevant Regulator or any agent of the Relevant Regulator appointed for such purpose by the Relevant Regulator.

If a Capital Adequacy Trigger Event occurs, then an Automatic Conversion will occur without delay (but no later than one month following the date on which it is determined such Capital Adequacy Trigger Event has occurred), as described in the prospectus supplement under "Description of the Securities-Automatic Conversion Upon Capital Adequacy Trigger Event-Procedure-Automatic Conversion Procedure" at which point all of HSBC Holdings’ obligations under the Securities will be irrevocably and automatically released in consideration of HSBC Holdings' issuance of the Conversion Shares to the Conversion Shares Depository (or to the relevant recipient in accordance with the terms of the Securities) on the date on which the Automatic Conversion will take place, or has taken place, as applicable (such date, the "Conversion Date"), and under no circumstances will such released obligations be reinstated.

Deferral Interest Payment

Discretionary Interest Payments

HSBC Holdings will have sole and absolute discretion at all times and for any reason to cancel (in whole or in part) any interest payment that would otherwise be payable on any interest payment date

Non-Cumulative Deferral

HSBC Holdings may, in its sole discretion, elect to make a partial interest payment on the Securities on any interest payment date, only to the extent that such partial interest payment may be made without breaching the restriction in the preceding paragraph. For the avoidance of doubt, the portion of interest not paid on the relevant interest payment date will be deemed to have been cancelled and thus will not be due and payable on such interest payment date.

Issuer Call

Issuer’s Call

The Securities will not be redeemable at the option of the securityholders at any time. The Securities may be redeemed in whole (but not in part) at HSBC Holdings' option on any Reset Date at a redemption price equal to 100% of the principal amount plus any accrued and unpaid interest to (but excluding) the date of redemption (which interest will exclude any interest that is cancelled or deemed to have been cancelled as described in the prospectus supplement under "Description of the Securities-Interest-Interest Cancellation").

Special Event Redemption

The Securities may be redeemed in whole (but not in part) at HSBC Holdings’ option upon the occurrence of a Tax Event or a Capital Disqualification Event. In each case, the redemption price will be equal to 100% of the principal amount plus any accrued and unpaid interest to (but excluding) the date of redemption (which interest will exclude any interest that is cancelled or deemed to have been cancelled as described in the prospectus supplement under "Description of the Securities-Interest-Interest Cancellation").

Redemption Conditions

Any redemption of the Securities is subject to the regulatory approval and other restrictions described in the prospectus supplement under "Description of the Securities-Interest-Interest Cancellation".

Bondsupermart strives to ensure the accuracy and relevance of the information provided here. If the information is not up-to-date or erroneous, we appreciate feedback to keep it accurate.