HSBC Holdings Announces Redemption of Perpetual Subordinated Convertible Securities
Why we think this is neutral
This appears to be a routine regulatory announcement regarding the redemption of HSBC's perpetual subordinated convertible securities. The RNS does not indicate any material impact on the company's core business or financial performance, and the broker targets suggest the market maintains a generally positive view on HSBC.
Key Points
- HSBC is redeeming the US$2,450,000,000 6.375% Perpetual Subordinated Contingent Convertible Securities in full on 30 March 2025
- The redemption price is US$1,000 per US$1,000 principal amount, plus accrued but unpaid interest
- The securities will be delisted from the Global Exchange Market of Euronext Dublin on the redemption date
Summary
The major bank is redeeming a set of perpetual subordinated convertible securities, with no material impact on the business.
HSBC Holdings plc is redeeming in full its US$2,450,000,000 6.375% Perpetual Subordinated Contingent Convertible Securities on 30 March 2025. The redemption price will be US$1,000 per US$1,000 principal amount, and accrued but unpaid interest will also be paid. The securities will be delisted from the Global Exchange Market of Euronext Dublin on the redemption date.
Key Dates
30 March 2025
General
Redemption Date for the Perpetual Subordinated Convertible Securities
Impact Score: 3
GENERAL UPDATE