HSBC Holdings plans to offer fixed-to-floating rate notes, floaters

By Devika Patel

Knoxville, Tenn., May 10 – HSBC Holdings plc will conduct a two-tranche offering of fixed-to-floating rate senior notes and 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 Libor. The floaters will accrue interest at a rate based on Libor.

Both notes are callable at par.

HSBC Securities (USA) Inc. is the bookrunner.

Proceeds will be used for general corporate purposes.

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

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