0001193125-26-219497
SEC filingHSBC Holdings plc issued $2,250,000,000 4.711% Fixed Rate/Floating Rate Senior Unsecured Notes due 2030 and $2,250,000,000 5.208% Fixed Rate/Floating Rate Senior Unsecured Notes due 2034 via its Thirty-Ninth Supplemental Indenture dated May 12, 2026.
HSBC Holdings plc executed its Thirty-Ninth Supplemental Indenture dated May 12, 2026, to the Base Indenture of August 26, 2009, establishing terms for two new series of senior unsecured notes totaling $4.5 billion. The 2030 Notes carry a 4.711% fixed rate initially, transitioning to floating after May 12, 2029, with maturity on May 12, 2030. The 2034 Notes bear 5.208% fixed initially, shifting to floating after May 12, 2033, maturing May 12, 2034. Interest payments during fixed periods occur semi-annually on May 12 and November 12, starting November 12, 2026. Floating periods feature quarterly payments aligned with benchmark rates plus specified margins. Redemption options include make-whole calls starting six months post-issue and par calls at specified dates. The structure incorporates benchmark transition provisions and UK bail-in powers, reflecting regulatory compliance for a UK-based issuer. Exhibits 5.1 and 5.2 provide U.S. and English legal opinions affirming the notes' validity and enforceability under applicable laws, supporting investor confidence in the obligations' legal standing. This issuance extends HSBC's debt maturity profile while providing call flexibility.