HSBC Holdings (HKG:0005) plans to issue SG$1.5 billion in resettable perpetual subordinated contingent convertible securities under its $50 billion program, according to a Thursday filing on the Hong Kong bourse.
The securities have a 5.250% coupon rate, which, after the reset, will be equal to the sum of the SORAOIS Rate and 2.237%.
The resettable dates are Dec. 14, 2029, and December 14, 2034. From then on, all resettable security interest payment dates will fall on Dec. 14 each year, five years after the previous reset.
Price (HKD): $67.90, Change: $-0.25, Percent Change: -0.37%
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