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HSBC to redeem €1.5 billion CoCo securities in September
By Mary-Katherine Stinson
Lexington, Ky., Aug. 9 – HSBC Holdings plc will exercise its option to redeem all €1.5 billion outstanding 5.25% perpetual subordinated contingent convertibles (ISIN: XS1111123987) on the resettable security interest date of Sept. 16, according to a notice.
The securities will be redeemed at €1,000 per calculation amount as defined in the pricing supplement plus accrued interest from the resettable security interest date of March 16 to the redemption date.
The securities will be delisted and canceled after the redemption.
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