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LONDON - HSBC Holdings PLC (LSE:LON:HSBA) has announced its decision to fully redeem its US$2,000,000,000 2.099% Fixed Rate/Floating Rate Senior Unsecured Notes due in 2026. The redemption, as stated in the notice dated today, is set to occur on June 4, 2025.
The securities, under CUSIP No. 404280CG2 and ISIN: US404280CG21, were issued in accordance with an indenture dated August 26, 2009. This indenture has been amended over time, including a sixteenth supplemental indenture dated June 4, 2020. HSBC Holdings PLC, The Bank of New York Mellon (NYSE:BK), London Branch as trustee, and HSBC Bank USA, National Association as the paying agent and registrar, are parties to the indenture.
The redemption price has been set at US$1,000 per US$1,000 principal amount of the securities. In addition, holders of the securities will receive an interest payment for the period from December 4, 2024, to the redemption date, as long as they are holders of record on May 20, 2025.
On the redemption date, both the redemption price and any accrued interest will be due and payable, and interest will cease to accrue thereafter. Securities are to be surrendered to HSBC Bank USA’s registered office in New York for the redemption.
HSBC has also reminded investors of the potential for backup withholding at a rate of 24% on any payments to holders who have not provided a correct taxpayer identification number as required by U.S. federal income tax law. This information is based on a press release statement.
HSBC Holdings plc (NYSE:HSBC), headquartered in London, operates from offices in 58 countries and territories and is one of the world’s largest banking and financial services organizations, with assets totaling US$3,054 billion as of March 31, 2025.
The announcement is of interest to registered holders and beneficial owners of the securities, and HSBC Bank USA is the point of contact for questions related to the redemption notice.
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