HSBC 2012 Annual Report Download - page 485

483
Overview Operating & Financial Review Corporate Governance Financial Statements Shareholder Information
At 31 December
First call
date
Maturity
date
2012
US$m
2011
US$m
HSBC USA Inc.
US$200m 7.808% capital securities ........................................................... Dec 2006 Dec 2026 200 200
US$200m 8.38% capital securities ............................................................. May 2007 May 2027 200 200
US$150m 9.50% subordinated debt ........................................................... – Apr 2014 152 154
US$150m 7.75% Capital Trust pass through securities ............................. Nov 2016 Nov 2026 150 150
US$750m 5.00% subordinated notes .......................................................... – Sep 2020 745 744
US$250m 7.20% subordinated debentures ................................................. – Jul 2097 214 214
Other subordinated liabilities each less than US$150m ............
302 394
1,963 2,056
HSBC Bank USA, N.A.
US$1,000m 4.625% subordinated notes ........................................................ – Apr 2014 1,002 1,009
US$500m 6.00% subordinated notes ......................................................... – Aug 2017 516 505
US$1,250m 4.875% subordinated notes ........................................................ – Aug 2020 1,263 1,259
US$1,000m 5.875% subordinated notes ....................................................... – Nov 2034 1,151 951
US$750m 5.625% subordinated notes ....................................................... – Aug 2035 864 712
US$700m 7.00% subordinated notes ......................................................... – Jan 2039 694 681
5,490 5,117
HSBC Finance Corporation
US$1,000m 5.911% trust preferred securities7 .............................................. Nov 2015 Nov 2035 995 994
US$2,939m 6.676% senior subordinated notes8 ............................................ – Jan 2021 2,180 2,177
3,175 3,171
HSBC Bank Brazil S.A.
BRL383m Subordinated certificates of deposit .......................................... – Feb 2015 289 206
BRL500m Subordinated floating rate certificates of deposit ...................... – Dec 2016 464 268
Other subordinated liabilities each less than US$150m9 ........... 491 1,156
1,244 1,630
HSBC Mexico, S.A.
MXN1,818m Non-convertible subordinated obligations10 .............................. – Sep 2018 139 130
MXN2,273m Non-convertible subordinated obligations10 .............................. – Dec 2018 173 162
US$300m Non-convertible subordinated obligations10,11 ........................... – Jun 2019 240 232
552 524
HSBC Bank Canada
CAD400m 4.80% subordinated notes .......................................................... Apr 2017 Apr 2022 438 417
CAD200m 4.94% subordinated debentures ................................................. – Mar 2021 201 195
CAD39m Floating rate debentures ............................................................. – Nov 2083 39 39
678 651
Other HSBC subsidiaries
Other subordinated liabilities each less than US$200m9 ........... 650 676
650 676
Total of subordinated liabilities issued by HSBC subsidiaries ............................................................................ 30,469 30,761
Amounts owed to third parties by HSBC Holdings (page 480) ........................................................................... 20,569 21,456
51,038 52,217
1 In June2012 and July 2012, HSBC redeemed its £350m callable subordinated variable coupon note and its US$300m callable
subordinated floating rate notes respectively at par.
2 The interest rate payable after September 2015 is the sum of the three-month sterling Libor plus 0.82%.
3 The interest rate payable after March 2018 is the sum of the gross redemption yield of the then prevailing five-year UK gilt plus 1.80%.
4 The interest rate payable after November 2025 is the sum of the three-month sterling Libor plus 1.50%.
5 The interest margin increases by 0.5% from September 2015.
6 In February 2013, HSBC gave notice that it will call and redeem the notes at par in March 2013.
7 The distributions change in November 2015 to three-month dollar Libor plus 1.926%.
8 Approximately 25% of the senior subordinated notes is held by HSBC Holdings.
9 Some securities included here are ineligible for inclusion in the capital base of HSBC in accordance with guidance in FSA’s GENPRU.
10 These securities are ineligible for inclusion in the capital base of HSBC in accordance with FSA’s GENPRU.
11 Approximately US$60m of the subordinated obligations are held by HSBC Holdings.