Bond Factsheet
HSBC 4.375% 23Nov2026 Corp (USD)
HSBC Holdings PLC
Indicative
Full Lot
Bid Price 99.958
Change in Bid Price 0.004
Bid Yield (%) 4.528 %
Change in Bid Yield 0.025
Ask Price 99.965
Change in Ask Price 0.004
Ask Yield (%) 4.476 %
Change in Ask Yield 0.026
Indicative price as of 02 Oct 2026, 4:33pm
Bond Issuer
HSBC Holdings PLC
Guarantor
-
Announcement Date
16 Nov 2016
Issue Date
23 Nov 2016
Maturity Date
23 Nov 2026
Years to Maturity / Next Call
0.133 / -
Modified Duration
0.128 @ 02 Oct 2026
Issue / Reoffer Price
99.992
Issue / Reoffer Yield
4.376
Coupon Type
Fixed
Annual Coupon Rate
4.375
Coupon Frequency
Semi Annually
Seniority
Subordinated
Capital Structure
Tier 2
Reference Rate
-
ISIN
US404280BH13
CUSIP
404280BH1
Bond Currency
USD
Total Issue Size
1,500,000,000
Outstanding Issue Size
891,855,000
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)
***/ A-
Shariah Compliant
No
Exchange Listed
Others
Loss Absorption
Agreement with Respect to the Exercise of UK Bail-in Power
By its acquisition of the Notes, each noteholder (which, for these purposes, includes each beneficial owner) will acknowledge, accept, consent and agree, notwithstanding any other term of the Notes, the Indenture or any other agreements, arrangements or understandings between us and any noteholder, to be bound by (a) the effect of the exercise of any UK bail-in power by the relevant UK resolution authority that may include and result in any of the following, or some combination thereof: (i) the reduction of all, or a portion, of the Amounts Due; (ii) the conversion of all, or a portion, of the Amounts Due into our or another person's ordinary shares, other securities or other obligations (and the issue to, or conferral on, the noteholder of such ordinary shares, other securities or other obligations), including by means of an amendment, modification or variation of the terms of the Notes or the Indenture; (iii) the cancellation of the Notes; and/or (iv) the amendment or alteration of the maturity date of the Notes or amendment of the amount of interest payable on the Notes, or the interest payment dates, including by suspending payment for a temporary period; and (b) the variation of the terms of the Notes or the Indenture, if necessary, to give effect to the exercise of any UK bailin power by the relevant UK resolution authority. No repayment or payment of Amounts Due will become due and payable or be paid after the exercise of any UK bailin power by the relevant UK resolution authority if and to the extent such amounts have been reduced, converted, cancelled, amended or altered as a result of such exercise. Moreover, each noteholder (which, for these purposes, includes each beneficial owner) will consent to the exercise of any UK bail-in power as it may be imposed without any prior notice by the relevant UK resolution authority of its decision to exercise such power with respect to the Notes.
For these purposes,
(a) "Amounts Due" are the principal amount of, and any accrued but unpaid interest, including any Additional Amounts, on, the Notes. References to such amounts will include amounts that have become due and payable, but which have not been paid, prior to the exercise of any UK bail-in power by the relevant UK resolution authority;
(b) a "UK bail-in power" is any write-down, conversion, transfer, modification, or suspension power existing from time to time under, and exercised in compliance with, any laws, regulations, rules or requirements in effect in the United Kingdom, relating to the transposition of the BRRD, including but not limited to the Banking Act and the instruments, rules and standards created thereunder, pursuant to which (i) any obligation of a regulated entity (or other affiliate of such regulated entity) can be reduced, cancelled, modified, or converted into shares, other securities, or other obligations of such regulated entity or any other person (or suspended for a temporary period); and (ii) any right in a contract governing an obligation of a regulated entity may be deemed to have been exercised. A reference to a "regulated entity" is to any BRRD Undertaking as such term is defined under the PRA Rulebook promulgated by the PRA, as amended from time to time, which includes certain credit institutions, investment firms, and certain of their parent or holding companies; and
(c) the "relevant UK resolution authority" is any authority with the ability to exercise a UK bail-in power.
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