HSBC Issuing $3b in 6% Perpetual Contingent Convertibles
HSBC Holdings to issue $3b in 6% perpetual subordinated contingent convertible securities.
- Callable May 22, 2027 and every five years thereafter (ISIN US404280BL25)
- Securities expected to be admitted to official list and to trading on global exchange market of Irish Stock Exchange within 30 days of issue date
- Denominations of securities will be $200,000 and integral multiples of $1,000 in excess thereof
- HSBC Securities acting as sole structuring adviser and book running manager, together with 17 other placing agents