This is a routine redemption with no trading implications for HSBC common shares. Holders of the specific CUSIP 404280BY4 should surrender securities by the record dates to receive payment. Monitor for any subsequent capital actions that may signal broader balance sheet strategy.
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Executive Summary
HSBC Holdings plc has elected to redeem its £1bn 5.875% Perpetual Subordinated Contingent Convertible Securities in full on 28 September 2026 at par plus accrued interest. The securities will be delisted from Euronext Dublin. This is a routine capital management action with no material impact on the common stock.
Key Facts
- HSBC is redeeming £1,000,000,000 of perpetual subordinated convertible securities at par on 28 September 2026.
- Redemption price is £1,000 per £1,000 principal amount plus accrued interest from 28 March 2026.
- Securities will be delisted from Euronext Dublin on the redemption date.
- The securities carry a 5.875% coupon and were initially callable from 28 September 2026.
Financial Impact
HSBC will pay £1bn par value plus accrued interest to redeem the securities, reducing its subordinated debt and future interest expense by approximately £58.75m per year.
Risk Factors
- None material to common equity; redemption reduces subordinated debt outstanding.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 8 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (HSBC) — Batch item 1 | 0001654954-26-007013 |
| Document: 0001654954-26-007013-index-headers.html | 0001654954-26-007013 |
| Document: 0001654954-26-007013-index.html | 0001654954-26-007013 |
| Document: 0001654954-26-007013.txt | 0001654954-26-007013 |
| 6-K Filing (HSBC) — Batch item 5 | 0001654954-26-007013 |
| Document: 0001654954-26-007013-index-headers.html | 0001654954-26-007013 |
| Document: 0001654954-26-007013-index.html | 0001654954-26-007013 |
| Document: 0001654954-26-007013.txt | 0001654954-26-007013 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 16, 2026 16d ago | 6-K | $100.84 $100.25 | ▼ −0.59% | ▼ −3.15% | $96.14 (−4.66%) |
Sep 15, 2026 17d ago | 6-K | $102.22 $101.59 | ▼ −0.62% | ▼ −2.74% | $96.14 (−5.95%) |
Sep 14, 2026 18d ago | 6-K | $103.94 $103.21 | ▼ −0.70% | ▼ −0.81% | $96.14 (−7.50%) |
Sep 14, 2026 18d ago | 6-K | $103.94 $103.21 | ▼ −0.70% | ▼ −0.81% | $96.14 (−7.50%) |
Sep 11, 2026 21d ago | 6-K | $105.30 $101.83 | ▼ −3.30% | ▼ −3.07% | $96.14 (−8.70%) |
Sep 11, 2026 21d ago | 6-K | $105.30 $101.83 | ▼ −3.30% | ▼ −3.07% | $96.14 (−8.70%) |
Sep 11, 2026 21d ago | 6-K | $105.30 $101.83 | ▼ −3.30% | ▼ −3.07% | $96.14 (−8.70%) |
Sep 11, 2026 21d ago | 6-K | $105.30 $101.83 | ▼ −3.30% | ▼ −3.07% | $96.14 (−8.70%) |
Sep 10, 2026 22d ago | 6-K | $103.70 $102.84 | ▼ −0.83% | ▼ −0.33% | $96.14 (−7.29%) |
Sep 10, 2026 22d ago | 6-K | $103.70 $102.84 | ▼ −0.83% | ▼ −0.33% | $96.14 (−7.29%) |
US Market Status
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