HSBC 2002 Annual Report Download - page 248

HSBC HOLDINGS PLC
Notes on the Financial Statements (continued)
246
The total subordinated borrowings of HSBC Holdings are as follows:
2002
US$m
2001
US$
m
Amounts owed to third parties: amounts falling due after more than 1 year:
US$1,400m 5.25% subordinated notes 2012.......................................................... 1,394
–
€1,000m 5.375% subordinated notes 2012........................................................ 1,045
–
£650m 5.75% subordinated notes 2027.......................................................... 1,041
–
US$1,000m 7.5% subordinated notes 2009............................................................ 999 999
£250m 9.875% subordinated bonds 20181..................................................... 397 357
US$350m Subordinated step-up coupon floating rate notes 20102..................... 349 349
€300m 5.5% subordinated notes 2009............................................................ 315 266
US$250m Subordinated collared floating rate notes 20083................................. 250 250
5,790 2,221
Amounts owed to third parties: amounts falling due within 1 year
£413m 11.69% subordinated bonds 2002 ......................................................
–
599
5,790 2,820
Amounts owed to HSBC undertakings:
US$1,350m 9.547% subordinated step-up cumulative notes 2040 –
HSBC Capital Funding (Dollar 1) LP ................................................ 1,350 1,350
US$900m 10.176% subordinated step-up cumulative notes 2040 –
HSBC Capital Funding (Dollar 1) LP ................................................ 900 900
£500m 8.208% subordinated step-up cumulative notes 2040 –
HSBC Capital Funding (Sterling 1) LP.............................................. 806 725
€600m 8.03% subordinated step-up cumulative notes 2040 –
HSBC Capital Funding (Euro 1) LP................................................... 630 531
US$350m 7.525% subordinated loan 2003 – HSBC Finance Nederland B.V. ... 350 350
4,036 3,856
9,826 6,676
HSBC Holdings’ dated subordinated loan capital is repayable:
– within 1 year ........................................................................................................... 350 599
– between 1 and 2 years .............................................................................................
–
350
– between 2 and 5 years .............................................................................................
–
–
– over 5 years............................................................................................................. 9,476 5,727
9,826 6,676
1The interest rate on the 9.875 per cent subordinated bonds 2018 changes in April 2013 to become the higher of i) 9.875 per cent or ii)
the sum of the yield on the relevant benchmark treasury stock plus 2.5 per cent. The bonds may be redeemed in April 2013 at par and
redemption has also been allowed from April 1998, subject to the prior consent of the Financial Services Authority, for an amount
based on the redemption yields of the relevant benchmark treasury stocks.
2The interest margin on the Subordinated Step-up coupon floating rate notes 2010 increases by 0.5 per cent from April 2005. The notes
are repayable from their step up date at the option of the borrower, subject to the prior consent of the Financial Services Authority.
3The interest payable ceases to be collared from November 2003 and becomes payable at a floating rate plus margin. The notes are
repayable in November 2003 at the option of the borrower, subject to the prior consent of the Financial Services Authority.