HSBC plans offering of fixed-to-floating senior notes

By Rebecca Melvin

New York, Nov. 17 – HSBC Holdings plc is planning to sell an offering of fixed-to-floating rate senior notes, according to a 424B2 filing with the Securities and Exchange Commission.

The fixed-to-floaters will initially have a fixed coupon and then an interest rate based on SOFR.

After six months from issue, the notes can be called at the greater of par or a make-whole redemption price.

HSBC Securities (USA) Inc. is the bookrunner.

Proceeds will be used to fund a tender offer that started on Tuesday. Any remaining proceeds will be used for general corporate purposes.

The issuer is a banking and financial services group based in London.

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