HSBC calls all 6.2% non-cumulative preference shares, series A

By Taylor Fox

New York, Dec. 10 – HSBC Holdings plc plans to redeem all of its 1.45 million 6.2% non-cumulative dollar preference shares, series A represented by American Depositary Shares, series A, according to a news release.

The shares will be redeemed at a redemption price of $1,000 per preference share and $25 per ADS, plus accrued and unpaid dividends for the then-current dividend period to the redemption date.

The redemption will be funded using proceeds from the sale of perpetual subordinated contingent convertible securities.

Any remaining proceeds from the new securiites will be used for general corporate purposes and to further strengthen the company’s capital base pursuant to regulatory requirements.

The banking and financial services company is based in London.

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