Bond Factsheet
HSBC 8.113% 03Nov2033 Corp (USD)
HSBC Holdings PLC
Indicative
Full Lot
Bid Price 108.527
Change in Bid Price 0.404
Bid Yield (%) 6.395 %
Change in Bid Yield 0.078
Ask Price 109.078
Change in Ask Price 0.476
Ask Yield (%) 6.290 %
Change in Ask Yield 0.092
Indicative price as of 02 Oct 2026, 4:33pm
Ask Yield to Worst
Bid Yield to Worst
Ask Yield to Maturity
Bid Yield to Maturity
Bond Issuer
HSBC Holdings PLC
Guarantor
-
Announcement Date
26 Oct 2022
Issue Date
03 Nov 2022
Maturity Date
03 Nov 2033
Years to Maturity / Next Call
7.084 / 6.084
Modified Duration
5.249 @ 02 Oct 2026
Issue / Reoffer Price
100.000
Issue / Reoffer Yield
8.113
Coupon Type
Variable
Annual Coupon Rate
8.113
Coupon Frequency
Semi Annually
Seniority
Subordinated
Capital Structure
Tier 2
Reference Rate
Reset Date: 03 Nov 2032 and every quarter thereafter
Reset Rate: US SOFR Rate + Margin (4.250%)
ISIN
US404280DS59
CUSIP
404280DS5
Bond Currency
USD
Total 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)
***/ 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 in relation to any Notes that (without limitation) 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 bail-in 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 bail-in 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.
a “UK bail-in power” means the powers under the UK bail-in legislation to cancel, transfer or dilute shares issued by a person tent firm or affiliate of a bank or investment firm, to cancel, write-down, transfer, reduce, modify or change the form of a liability of such a person or any contract or instrument under which that liability arises, to convert all or part of that liability into shares, securities or obligations of that person or any other person, to provide that any such contract or instrument is to have effect as if a right had been exercised under it or to suspend any obligation in respect of that liability;
“UK bail-in legislation” means Part I of the Banking Act and any other law or regulation applicable in the UK relating to the resolution of unsound or failing banks, investment firms or other financial institutions or their affiliates (otherwise than through liquidation, administration or other insolvency proceedings);
Issuer Call
Par Redemption Date:November 3, 2032
Additional Note
Following the occurrence of a Capital Disqualification Event, HSBC Holdings may, on the terms and subject to the provisions set forth under “Description of the Notes––Redemption” in the Preliminary Prospectus Supplement, within 90 days of the occurrence of the relevant Capital Disqualification Event, in HSBC Holdings’ sole discretion, redeem the Notes in whole, but not in part, at a redemption price equal to 100% of their principal amount, plus any accrued and unpaid interest to (but excluding) the applicable redemption date.
A “Capital Disqualification Event” means an event that shall be deemed to have occurred if HSBC Holdings determines at any time after the Issue Date, that there is a change in the regulatory classification of the Notes that results in or will result in: either (i) their exclusion in whole or in part from the regulatory capital of the HSBC Group; or (ii) their reclassification in whole or in part as a form of regulatory capital of the HSBC Group that is lower than Tier 2 capital (if any).
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