Bond Factsheet
HSBC 4.500% 07Jun2029 Corp (SGD)
HSBC Holdings PLC
Indicative
Full Lot
Bid Price 102.633
Change in Bid Price 0.050
Bid Yield (%) 2.870 %
Change in Bid Yield 0.027
Ask Price 103.017
Change in Ask Price 0.050
Ask Yield (%) 2.638 %
Change in Ask Yield 0.027
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
30 May 2023
Issue Date
07 Jun 2023
Maturity Date
07 Jun 2029
Years to Maturity / Next Call
2.673 / 1.673
Modified Duration
2.474 @ 02 Oct 2026
Issue / Reoffer Price
100.000
Issue / Reoffer Yield
4.500
Coupon Type
Variable
Annual Coupon Rate
4.500
Coupon Frequency
Semi Annually
Seniority
Senior Unsecured
Capital Structure
Senior Unsecured
Reference Rate
Reset Date: 07 June 2028
Reset Rate: 1-year SORA OIS + Initial Spread [1.492%]
ISIN
XS2630484744
CUSIP
ZK8280511
Bond Currency
SGD
Total Issue Size
600,000,000
Min. Investment Quantity (Nominal)
SGD 250,000
Incremental Quantity (Nominal)
SGD 250,000
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
(a) Notwithstanding and to the exclusion of any other term of any Series of Notes or any other agreements, arrangements or understandings between the Issuer and any Noteholder, by its acquisition of any Notes, each Noteholder (which, for these purposes, includes each holder of a beneficial interest in the Notes), acknowledges and accepts that the Amounts Due (as defined below) arising under any Notes may be subject to the exercise of UK Bailin Power (as defined below) by the Relevant UK Resolution Authority (as defined below), and acknowledges, accepts, consents and agrees to be bound by:
(i) 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 on any Series of Notes into shares, other securities or other obligations of the Issuer or another person (and the issue to or conferral on the Noteholder of such shares, securities or obligations), including by means of an amendment, modification or variation of the terms of such Series of Notes; (iii) the cancellation of any Series of Notes; (iv) the amendment or alteration of the date for redemption of any Series of Notes or amendment of the amount of interest payable on any Series of Notes, or the Interest Payment Dates relating thereto, including by suspending payment for a temporary period; and
(ii) the variation of the terms of any Series of Notes, if necessary, to give effect to the exercise of any UK Bail-in Power by the Relevant UK Resolution Authority.
Loss Absorption Disqualification Event Redemption
Following the occurrence of a Loss Absorption Disqualification Event, HSBC Holdings may, within 90 days of the occurrence of the relevant Loss Absorption Disqualification Event, in its 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, subject to any required supervisory consent and as further set out in the conditions of the Notes.
"Loss Absorption Disqualification Event" in relation to any Series of Notes other than Subordinated Notes, shall be deemed to have occurred if such Series of Notes becomes fully or partially ineligible to meet the Issuer's and/or the Group's minimum requirements for (A) eligible liabilities and/or (B) loss absorbing capacity instruments, in each case as determined in accordance with and pursuant to the relevant Loss Absorption Regulations applicable to the Issuer and/or the Group, as a result of any:
(a) Loss Absorption Regulation becoming effective after the Issue Date of the first Tranche of such Series of Notes; or
(b) amendment to, or change in, any Loss Absorption Regulation, or any change in the application or official interpretation of any Loss Absorption Regulation, in any such case becoming effective on or after the Issue Date of the first Tranche of such Series of Notes, provided, however, that a Loss Absorption Disqualification Event shall not occur where the exclusion of the Notes from the relevant minimum requirement(s) is due to the remaining maturity of the Notes being less than any period prescribed by minimum requirement(s) under the relevant Loss Absorption Regulations effective with respect to the Issuer and/or the Group on the Issue Date of the first Tranche of Notes of the relevant Series;
Issuer Call
Call Date: 07 June 2028
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