HSBC (NYSE: HSBC) calls HK$1.5B and EUR2B 2027 notes for 2026

Rhea-AI Filing Summary

HSBC Holdings plc will redeem in 2026 its HK$1,500,000,000 1.55% Notes due 2027 (Series 42) and EUR2,000,000,000 3.019% Fixed to Floating Rate Notes due 2027 (Series 52) under its issuer call options.

The Series 42 Notes will be redeemed on 3 June 2026 at HK$1,000,000 per Calculation Amount plus accrued interest from 3 June 2025. The Series 52 Notes will be redeemed on 15 June 2026 at EUR1,000 per Calculation Amount plus accrued interest from 15 June 2025.

Listings of these Notes on the Official List of the UK Financial Conduct Authority and trading on the London Stock Exchange Main Market will be cancelled shortly after 4 June 2026 for Series 42 and 16 June 2026 for Series 52.

Key Figures

Series 42 principal amount: HK$1,500,000,000 Series 42 redemption price: HK$1,000,000 per Calculation Amount Series 52 principal amount: EUR2,000,000,000 +4 more

7 metrics

Series 42 principal amount HK$1,500,000,000 1.55% Notes due 2027 to be redeemed on 3 June 2026

Series 42 redemption price HK$1,000,000 per Calculation Amount Plus accrued interest from 3 June 2025 to 3 June 2026

Series 52 principal amount EUR2,000,000,000 3.019% Fixed to Floating Rate Notes due 2027

Series 52 redemption price EUR1,000 per Calculation Amount Plus accrued interest from 15 June 2025 to 15 June 2026

HSBC total assets US$3,233bn As of 31 December 2025

Series 42 listing cancellation date 4 June 2026 Cancellation on or shortly after this date

Series 52 listing cancellation date 16 June 2026 Cancellation on or shortly after this date

Key Terms

Redemption at the Option of the Issuer, Calculation Amount, Fixed to Floating Rate Notes, Official List of the Financial Conduct Authority, +2 more

6 terms

Redemption at the Option of the Issuer financial

"pursuant to Condition 6(c) (Redemption at the Option of the Issuer) of the terms and conditions"

A clause that lets the borrower (the company that issued a bond or preferred share) choose to pay back the security before its stated maturity date. It matters to investors because early repayment changes expected income and timing — like a loan being paid off ahead of schedule — which can lower total returns and force reinvestment at potentially lower interest rates; buyers often demand higher yields or call protection to compensate.

Calculation Amount financial

"redeem all of the outstanding Series 42 Notes at HK$1,000,000 per Calculation Amount"

Fixed to Floating Rate Notes financial

"EUR2,000,000,000 3.019% Fixed to Floating Rate Notes due 2027"

Official List of the Financial Conduct Authority regulatory

"The listing of the Notes on the Official List of the Financial Conduct Authority"

Regulation S regulatory

"persons, as defined in Regulation S under the Securities Act"

Regulation S is a set of rules that allows companies to sell securities (like shares or bonds) to investors outside the United States without having to follow all U.S. securities laws. It matters because it makes it easier for companies to raise money from international investors while still complying with U.S. regulations.

United States Securities Act of 1933 regulatory

"The Notes have not been and will not be registered under the United States Securities Act of 1933"

A federal law that requires companies to provide clear, written information when they sell stocks, bonds or other investment securities to the public, and that outlaws misleading claims or fraud in those offerings. It matters to investors because it forces sellers to lay out the key facts — like a detailed menu for an unfamiliar restaurant — so buyers can compare options, understand risks, and rely on a legal framework if important information is omitted or deceptive.

Form 6-K: How Foreign Companies Report to the SEC →

FORM 6-K

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Report of Foreign Private Issuer

Pursuant to Rule 13a - 16 or 15d - 16 of

the Securities Exchange Act of 1934

For the month of April

HSBC Holdings plc

8 Canada Square, London E14 5HQ, England

(Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F).

Form 20-F X Form 40-F  

23 April 2026

HSBC HOLDINGS PLC

NOTICE OF REDEMPTION AND CANCELLATION OF LISTING

To the holders of:

(i)         HK$1,500,000,000 1.55% Notes due 2027

ISIN Code: XS2349742119

(the 'Series 42 Notes')

and

(ii)        EUR2,000,000,000 3.019% Fixed to Floating Rate Notes due 2027

ISIN Code: XS2486589596

(the 'Series 52 Notes' and together with the Series 42 Notes, the 'Notes')

Notice is hereby irrevocably given to:

i.    the holders of the Series 42 Notes (the 'Series 42 Noteholders') that, pursuant to Condition 6(c) (Redemption at the Option of the Issuer) of the terms and conditions of the Series 42 Notes and paragraph 16 (Issuer's optional redemption (Call): Condition 6(c)) of the final terms dated 1 June 2021, relating to the Series 42 Notes (the 'Series 42 Final Terms'), on 3 June 2026 (the 'Series 42 Redemption Date' ) HSBC Holdings plc will exercise its option to redeem all of the outstanding Series 42 Notes at HK$1,000,000 per Calculation Amount (as defined in the Series 42 Final Terms), together with accrued but unpaid interest from (and including) 3 June 2025 to (but excluding) the Series 42 Redemption Date; and

ii.    the holders of the Series 52 Notes (the 'Series 52 Noteholders') that, pursuant to Condition 6(c) (Redemption at the Option of the Issuer) of the terms and conditions of the Series 52 Notes and paragraph 16 (Issuer's optional redemption (Call): Condition 6(c)) of the final terms dated 13 June 2022, relating to the Series 52 Notes (the 'Series 52 Final Terms'), on 15 June 2026 (the 'Series 52 Redemption Date') HSBC Holdings plc will exercise its option to redeem all of the outstanding Series 52 Notes at EUR1,000 per Calculation Amount (as defined in the Series 52  Final Terms), together with accrued but unpaid interest from (and including) 15 June 2025 to (but excluding) the Series 52 Redemption Date.

Noteholders should look to the relevant clearing systems through which their Notes are held for repayment.

The listing of the Notes on the Official List of the Financial Conduct Authority and the admission of the Notes to trading on the Main Market of the London Stock Exchange plc will be cancelled on, or shortly after, 4 June 2026 in respect of the Series 42 Notes and 16 June 2026 in respect of the Series 52 Notes.

Investor enquiries to:

Greg Case                        +44 (0) 20 7992 3825 investorrelations@hsbc.com

Media enquiries to:

Press Office                     +44 (0) 20 7991 8096                pressoffice@hsbc.com

Note to editors:

HSBC Holdings plc

HSBC Holdings plc, the parent company of HSBC, is headquartered in London. HSBC serves customers worldwide from offices in 56 countries and territories. With assets of US$3,233bn at 31 December 2025, HSBC is one of the world's largest banking and financial services organisations.

The Notes have not been and will not be registered under the United States Securities Act of 1933, as amended (the 'Securities Act'), or any state securities laws and, unless so registered, may not be offered or sold within the United States or to, or for the account or the benefit of, US persons, as defined in Regulation S under the Securities Act, except pursuant to an exemption from or in a transaction not subject to the registration requirements of the Securities Act and in compliance with any applicable state securities laws.

ends/all

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

HSBC Holdings plc

By:

Name: Angela McEntee

Title: Group Company Secretary

Date: 23 April 2026

FAQ

What is HSBC (HSBC) announcing in this Form 6-K?

HSBC Holdings plc is calling two series of notes due 2027 for redemption in 2026. It will redeem the HK$1.5 billion 1.55% Series 42 Notes and the EUR2.0 billion 3.019% Series 52 Notes at their specified amounts plus accrued interest.

When will HSBC (HSBC) redeem the Series 42 and Series 52 notes?

The Series 42 Notes will be redeemed on 3 June 2026 and the Series 52 Notes on 15 June 2026. Interest will accrue on Series 42 from 3 June 2025 and on Series 52 from 15 June 2025 up to, but excluding, each redemption date.

At what price will HSBC (HSBC) redeem the 2027 notes?

The Series 42 Notes will be redeemed at HK$1,000,000 per Calculation Amount, and the Series 52 Notes at EUR1,000 per Calculation Amount. In each case, holders will also receive accrued but unpaid interest to the respective redemption date.

What happens to the stock exchange listing of HSBC’s (HSBC) notes?

The listings of both note series will be cancelled after redemption. The Series 42 Notes’ listing and trading will be cancelled on or shortly after 4 June 2026, and the Series 52 Notes’ listing and trading will be cancelled on or shortly after 16 June 2026.

How should HSBC (HSBC) noteholders receive repayment on redemption?

Noteholders are instructed to look to the clearing systems through which their notes are held for repayment. Payments of principal and accrued interest will be processed via those clearing systems in connection with the scheduled redemptions.

How large is HSBC (HSBC) compared with these note issues?

HSBC reported assets of US$3,233 billion as of 31 December 2025. Against this balance sheet, the HK$1.5 billion and EUR2.0 billion note series represent relatively small funding components within the group’s overall global banking operations.