By Colin Hanner
Chicago, June 6 – HSBC Holdings plc will issue S$1 billion 4.7% perpetual subordinated contingent convertible securities on Thursday, the company said in a 6-K with the Securities and Exchange Commission.
The issue will price at par.
The issue will reset on June 8, 2022 and every five years thereafter, with interest resetting to the mid-market swap rate plus 287 basis points.
HSBC, Singapore Branch is the lead manager, DBS Bank Ltd. and United Overseas Bank Ltd. are joint lead managers, and Malayan Banking Bhd., Industrial and Commercial Bank of China Ltd., Singapore Branch and ING Bank NV, Singapore Branch are managers for the deal.
| Issuer: | HSBC Holdings plc
|
| Issue: | Perpetual subordinated contingent convertible securities
|
| Amount: | S$1 billion
|
| Maturity: | Perpetual
|
| Bookrunner: | HSBC, Singapore Branch
|
| Joint lead managers: | DBS Bank Ltd. and United Overseas Bank Ltd.
|
| Managers: | Malayan Banking Bhd., Industrial and Commercial Bank of China Ltd., Singapore Branch and ING Bank NV, Singapore Branch
|
| Coupon: | 4.7% initially; resets on June 8, 2022 and every five years thereafter to mid-market swap rate plus 287 bps
|
| Price: | Par
|
| Announcement date: | June 6
|
| Settlement date: | June 8
|
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