HSBC to offer perpetual notes in two tranches; price talk set

By Rebecca Melvin and Cristal Cody

New York, March 2 – HSBC Holdings plc plans to offer perpetual notes in two parts, according to a market source.

The first tranche is non-callable for five years and was talked to yield in the area of 4.625%, and the second tranche is non-callable for 10 years and was talked to yield in the area of 5.125%.

HSBC Securities (USA) Inc. is the bookrunner.

The banking and financial services group is based in London.

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