HSBC 2007 Annual Report Download - page 425

423
HSBC’s subordinated liabilities
2007 2006
US$m US$m
Amounts owed to third parties by HSBC Holdings (see below) ................................................. 18,931 14,271
Other HSBC subordinated liabilities
€1,400m 5.3687% non-cumulative step-up perpetual preferred securities1 ........................ 2,018 1,918
£700m 5.844% non-cumulative step-up perpetual preferred securities2 .......................... 1,404 1,374
US$1,350m 9.547% non-cumulative step-up perpetual preferred securities, Series 11 ........... 1,335 1,336
US$1,200m Primary capital subordinated undated floating rate notes .................................... 1,207 1,205
£600m 4.75% subordinated notes 2046 ............................................................................ 1,186 1,160
€800m Callable subordinated floating rate notes 20163 ................................................... 1,176 1,052
US$1,250m 4.61% non-cumulative step-up perpetual preferred securities1 ............................ 1,130 1,158
€750m 5.13% non-cumulative step-up perpetual preferred securities1 ............................ 1,039 1,011
US$1,000m 4.625% subordinated notes 2014 .......................................................................... 1,001 998
£500m 8.208% non-cumulative step-up perpetual preferred securities1 .......................... 996 982
US$1,000m 5.911% trust preferred securities 20354 ................................................................ 992 991
US$1,000m 5.875% subordinated notes 2034 .......................................................................... 990 1,048
£500m 5.375% subordinated notes 2033 .......................................................................... 931 1,043
£500m 4.75% callable subordinated notes 20205 ............................................................. 931 942
US$900m 10.176% non-cumulative step-up perpetual preferred securities, Series 21 ......... 900 900
€600m 4.25% callable subordinated notes 20166.............................................................. 881 801
€600m 8.03% non-cumulative step-up perpetual preferred securities1 ............................ 878 790
US$750m Undated floating rate primary capital notes .......................................................... 750 750
£350m Callable subordinated variable coupon notes 20177 ............................................. 712 675
€500m Callable subordinated floating rate notes 20208 ................................................... 676 658
£350m 5% callable subordinated notes 20239 .................................................................. 672 687
US$750m 5.625% subordinated notes 2035 .......................................................................... 653 685
£350m 5.375% callable subordinated step-up notes 203010 ............................................. 652 701
£300m 6.5% subordinated notes 2023 .............................................................................. 598 585
£300m 5.862% non-cumulative step-up perpetual preferred securities2 .......................... 558 599
US$500m Undated floating rate primary capital notes .......................................................... 500 501
US$500m 6.00% subordinated notes 2017 ............................................................................ 498 –
US$450m Callable subordinated floating rate notes 20163 ................................................... 448 448
£225m 6.25% subordinated notes 2041 ............................................................................ 447 438
CAD400m 4.80% subordinated notes 2022 ............................................................................ 389 –
US$300m 7.65% subordinated notes 2025 ............................................................................ 359 373
BRL608m Subordinated debentures 2008 .............................................................................. 341 285
US$300m 6.95% subordinated notes 2011 ............................................................................ 325 326
US$300m Undated floating rate primary capital notes, Series 3 ........................................... 301 300
US$300m Callable subordinated floating rate notes 201711 .................................................. 299 –
BRL500m Subordinated certificates of deposit 2016 ............................................................ 281 234
US$250m 5.875% subordinated notes 2008 .......................................................................... 248 243
US$250m 7.20% subordinated debentures 2097 ................................................................... 218 217
CAD200m 4.94% subordinated debentures 2021 ................................................................... 207 169
US$200m 7.75% subordinated notes 2009 ............................................................................ 202 205
US$200m 7.808% capital securities 2026 ............................................................................. 200 200
US$200m 8.38% capital securities 2027 ............................................................................... 200 191
US$200m 6.625% subordinated notes 2009 .......................................................................... 199 197
£150m 8.625% step-up undated subordinated notes ......................................................... – 304
US$200m 7.53% capital securities 2026 ............................................................................... – 209
Other subordinated liabilities each less than US$200m ....................................... 3,535 2,701
33,463 31,590
52,394 45,861
Subordinated loan capital is repayable at par on maturity, but some is repayable prior to maturity at the option of the
borrower, generally with the non objection of the Financial Services Authority, and, where relevant, the consent of
the local banking regulator, and in certain cases at a premium over par. Interest rates on the floating rate loan capital
are related to interbank offered rates. On the remaining subordinated loan capital, interest is payable at fixed rates up
to 10.176 per cent.
1 See ‘Step-up perpetual preferred securities’ below, note (a) ‘Guaranteed by HSBC Holdings’.
2 See ‘Step-up perpetual preferred securities’ below, note (b) ‘Guaranteed by HSBC Bank’.
3 The interest margin on the €800m and US$450m callable subordinated floating rate notes 2016 increases by 0.5 per cent from March
2011 and July 2011, respectively.