HSBC 2008 Annual Report Download - page 427

425
HSBC’s subordinated liabilities
2008 2007
US$m US$m
Amounts owed to third parties by HSBC Holdings (see below) ................................................. 23,544 18,931
Other HSBC subordinated liabilities
€1,400m 5.3687% non-cumulative step-up perpetual preferred securities1 ........................ 1,532 2,018
US$1,350m 9.547% non-cumulative step-up perpetual preferred securities, Series 11 ........... 1,337 1,335
US$1,200m Undated floating rate primary capital notes .......................................................... 1,214 1,207
€800m Callable subordinated floating rate notes 20163 ................................................... 1,116 1,176
£700m 5.844% non-cumulative step-up perpetual preferred securities2 .......................... 1,021 1,404
US$1,000m 4.625% subordinated notes 2014 .......................................................................... 1,001 1,001
US$1,000m 5.911% trust preferred securities 20354 ................................................................ 992 992
US$1,000m 5.875% subordinated notes 2034 .......................................................................... 953 990
US$900m 10.176% non-cumulative step-up perpetual preferred securities, Series 21 ......... 900 900
£600m 4.75% subordinated notes 2046 ............................................................................ 863 1,186
€600m 8.03% non-cumulative step-up perpetual preferred securities1 ............................ 834 878
€600m 4.25% callable subordinated notes 20166.............................................................. 831 881
€750m 5.13% non-cumulative step-up perpetual preferred securities1 ............................ 790 1,039
US$750m Undated floating rate primary capital notes .......................................................... 750 750
US$1,250m 4.61% non-cumulative step-up perpetual preferred securities1 ............................ 745 1,130
£500m 8.208% non-cumulative step-up perpetual preferred securities1 .......................... 724 996
US$750m 5.625% subordinated notes 2035 .......................................................................... 715 653
US$700m 7.00% subordinated notes 2039 ............................................................................ 694 –
£500m 4.75% callable subordinated notes 20205 ............................................................. 675 931
£500m 5.375% subordinated notes 2033 .......................................................................... 659 931
€500m Callable subordinated floating rate notes 20208 ................................................... 567 676
£350m Callable subordinated variable coupon notes 20177 ............................................. 518 712
US$500m Undated floating rate primary capital notes .......................................................... 500 500
US$500m 6.00% subordinated notes 2017 ............................................................................ 498 498
£350m 5% callable subordinated notes 20239 .................................................................. 481 672
£350m 5.375% callable subordinated step-up notes 203010 ............................................. 461 652
US$450m Callable subordinated floating rate notes 20163 ................................................... 449 448
£300m 6.5% subordinated notes 2023 .............................................................................. 436 598
US$300m 7.65% subordinated notes 2025 ............................................................................ 384 359
£300m 5.862% non-cumulative step-up perpetual preferred securities2 .......................... 333 558
£225m 6.25% subordinated notes 2041 ............................................................................ 325 447
US$300m 6.95% subordinated notes 2011 ............................................................................ 324 325
US$300m Undated floating rate primary capital notes, Series 3 ........................................... 300 301
US$300m Callable subordinated floating rate notes 201711 .................................................. 299 299
CAD400m 4.80% subordinated notes 2022 ............................................................................ 277 389
US$250m 7.20% subordinated debentures 2097 ................................................................... 218 218
BRL500m Subordinated certificate of deposit 2016 .............................................................. 215 281
US$200m 7.75% subordinated notes 2009 ............................................................................ 203 202
US$200m 7.808% capital securities 2026 ............................................................................. 200 200
US$200m 8.38% capital securities 2027 ............................................................................... 200 200
US$200m 6.625% subordinated notes 2009 .......................................................................... 198 199
CAD200m 4.94% subordinated debentures 2021 ................................................................... 163 207
BRL608m Subordinated debentures 2008 .............................................................................. – 341
US$250m 5.875% subordinated notes 2008 .......................................................................... – 248
Other subordinated liabilities each less than US$200m ....................................... 3,711 3,535
29,606 33,463
53,150 52,394
Subordinated loan capital is repayable at par on maturity, but some is repayable prior to maturity at the option of the
borrower, generally subject to prior notification to 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 €800 million and US$450 million callable subordinated floating rate notes 2016 increases by 0.5 per cent
from March 2011 and July 2011, respectively.