By Devika Patel
Knoxville, Tenn., May 11 – HSBC Holdings plc priced $6 billion of senior notes (A2/A/AA-) in three tranches on Thursday, according to FWP filings with the Securities and Exchange Commission.
The company priced $2 billion of three-year floating-rate notes at Libor plus 60 basis points at par.
HSBC sold $2 billion of six-year floating-rate notes at Libor plus 100 bps at par.
A $2 billion tranche of 3.95% six-year fixed-to-floating rate notes priced at a spread of Treasuries plus 112 bps. These notes have a 3.95% coupon initially, then on May 18, 2023 the interest will begin to accrue at Libor plus 98.723 bps.
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.
| Issuer: | HSBC Holdings plc
|
| Amount: | $6 billion
|
| Description: | Fixed-to-floating rate and floating-rate global senior notes
|
| Call: | Non-callable
|
| Bookrunner: | HSBC Securities (USA) Inc.
|
| Co-managers: | Bankia SA, Citigroup Global Markets Inc., Credit Agricole Securities (USA) Inc., Danske Markets Inc., DZ Financial Markets LLC, ING Financial Markets LLC, Lloyds Securities Inc., Scotia Capital (USA) Inc., TD Securities (USA) LLC and Wells Fargo Securities, LLC
|
| Trade date: | May 10
|
| Settlement date: | May 18
|
| Ratings: | Moody’s: A2
|
| S&P: A
|
| Fitch: AA-
|
| Distribution: | SEC registered
|
|
|
| Three-year floaters
|
| Amount: | $2 billion
|
| Maturity: | May 18, 2021
|
| Coupon: | Libor plus 60 bps
|
| Price: | Par
|
| Yield: | Libor plus 60 bps
|
|
|
| Six-year floaters
|
| Amount: | $2 billion
|
| Maturity: | May 18, 2024
|
| Coupon: | Libor plus 100 bps
|
| Price: | Par
|
| Yield: | Libor plus 100 bps
|
|
|
| Six-year fixed-to-floaters
|
| Amount: | $2 billion
|
| Maturity: | May 18, 2024
|
| Coupon: | 3.95% initially; beginning May 18, 2023 converts to Libor plus 98.723 bps
|
| Spread: | Treasuries plus 112 bps
|
| Price: | Par
|
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