HSBC (HKG:0005) will redeem its 1 billion pounds sterling 5.875% perpetual subordinated contingent convertible securities on Sept. 28, exercising the first call option on the notes.
Holders will receive 1,000 pounds sterling for every 1,000 pounds sterling principal amount, together with accrued and unpaid interest from March 28 to Sept. 28, subject to the terms of the securities.
Following the redemption, HSBC has requested that the securities be delisted from the Global Exchange Market of Euronext Dublin effective on the redemption date.
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