HSBC 2011 Annual Report Download - page 392

HSBC HOLDINGS PLC
Notes on the Financial Statements (continued)
34 – Subordinated liabilities / 35 – Maturity analysis of assets and liabilities
390
HSBC Holdings
2011 2010
US$m US$m
Subordinated liabilities:
– at amortised cost ............................................................................................................................... 12,450 13,313
– designated at fair value (Note 29) .................................................................................................... 15,398 16,288
27,848 29,601
HSBC Holdings’ subordinated liabilities
2011
US$m
2010
US$m
Amounts owed to third parties
US$1,400m 5.25% subordinated notes 2012 ................................................................................... 1,438 1,492
€1,000m 5.375% subordinated notes 2012 ................................................................................. 1,327 1,405
€1,600m 6.25% subordinated notes 2018 ................................................................................... 2,073 2,142
£250m 9.875% callable subordinated bonds 20181 ................................................................. 445 467
€1,750m 6.0% subordinated notes 2019 ..................................................................................... 2,388 2,578
€700m 3.625% callable subordinated notes 20202 .................................................................. 869 928
£900m 6.375% callable subordinated notes 20223 .................................................................. 1,416 1,493
£650m 5.75% subordinated notes 2027 ................................................................................... 926 971
£650m 6.75% subordinated notes 2028 ................................................................................... 997 1,000
US$488m 7.625% subordinated notes 2032 ................................................................................. 578 582
US$222m 7.35% subordinated notes 2032 ................................................................................... 257 258
US$2,000m 6.5% subordinated notes 2036 ..................................................................................... 2,048 2,050
US$2,500m 6.5% subordinated notes 2037 ..................................................................................... 2,634 2,695
£750m 7.0% subordinated notes 2038 ..................................................................................... 1,205 1,210
US$1,500m 6.8% subordinated notes 2038 ..................................................................................... 1,486 1,485
£900m 6.0% subordinated notes 2040 ..................................................................................... 1,369 1,372
US$750m Callable subordinated floating rate notes 20164 .......................................................... – 750
21,456 22,878
Amounts owed to HSBC undertakings
US$1,250m 4.61% fixed/floating subordinated notes 2043 –
HSBC Capital Funding (Dollar 2) LP ..................................................................... 1,223 1,274
US$900m 10.176% subordinated step-up cumulative notes 2040 –
HSBC Capital Funding (Dollar 1) LP ..................................................................... 891 891
€1,400m 5.3687% fixed/floating subordinated notes 2043 –
HSBC Capital Funding (Euro 2) LP ........................................................................ 1,791 1,957
€750m 5.13% fixed/floating subordinated notes 2044 –
HSBC Capital Funding (Euro 3) LP ........................................................................ 941 1,028
€600m 8.03% subordinated step-up cumulative notes 2040 –
HSBC Capital Funding (Euro 1) LP ........................................................................ 775 801
£500m 8.208% subordinated step-up cumulative notes 2040 –
HSBC Capital Funding (Sterling 1) LP ................................................................... 771 772
6,392 6,723
27,848 29,601
1 The interest rate on the 9.875% subordinated bonds 2018 changes in April 2013 to become the higher of (i) 9.875% or (ii) the sum of the
yield on the relevant benchmark treasury stock plus 2.5%. The bonds may be redeemed in April 2013 at par and redemption has also
been allowed from April 1998, subject to the prior notification to the FSA, for an amount based on the redemption yields of the relevant
benchmark treasury stocks.
2 The interest rate on the 3.625% callable subordinated notes 2020 changes in June 2015 to become three-month EURIBOR plus 0.93%.
The notes may be redeemed at par from June 2015 at the option of the borrower, subject to the prior notification to the FSA.
3 The interest rate on the 6.375% callable subordinated notes 2022 changes in October 2017 to become three-month sterling LIBOR plus
1.3%. The notes may be redeemed at par from October 2017 at the option of the borrower, subject to the prior notification to the FSA.
4 In October 2011, HSBC Holdings redeemed its US$750m callable subordinated floating rate notes 2016 at par.