HSBC 2001 Annual Report Download - page 212

HSBC HOLDINGS PLC
Notes on the Financial Statements (continued)
210
The total subordinated borrowings of HSBC Holdings are as follows:
2001
US$m
2000
US$
m
Amounts owed to third parties: amounts falling due after more than 1 year:
US$1,000m 7.5% subordinated notes 2009............................................................ 999 999
£413m 11.69% subordinated bonds 2002 ......................................................
–
617
£250m 9.875% subordinated bonds 20181..................................................... 357 367
US$350m Subordinated step-up coupon floating rate notes 20102..................... 349 348
€300m 5.5% subordinated notes 2009............................................................ 266 279
US$250m Subordinated collared floating rate notes 2008 .................................. 250 250
2,221 2,860
Amounts owed to third parties: amounts falling due within 1 year
£413m 11.69% subordinated bonds 2002 ..................................................... 599
–
2,820 2,860
Amounts owed to HSBC undertakings:
US$1,350m 9.547% subordinated step-up cumulative notes 2040 –
HSBC Capital Funding (Dollar 1) LP ................................................ 1,350 1,350
US$900m 10.176% subordinated step-up cumulative notes 2040 –
HSBC Capital Funding (Dollar 1) LP ................................................ 900 900
£500m 8.208% subordinated step-up cumulative notes 2040 –
HSBC Capital Funding (Sterling 1) LP.............................................. 725 746
€600m 8.03% subordinated step-up cumulative notes 2040 –
HSBC Capital Funding (Euro 1) LP................................................... 531 558
US$350m 7.525% subordinated loan 2003 – HSBC Finance Nederland B.V. ... 350 349
3,856 3,903
6,676 6,763
HSBC Holdings’ dated subordinated loan capital is repayable:
– within 1 year ........................................................................................................... 599
–
– between 1 and 2 years ............................................................................................. 350 617
– between 2 and 5 years .............................................................................................
–
349
– over 5 years............................................................................................................. 5,727 5,797
6,676 6,763
1The interest rate on the 9.875 per cent subordinated bonds 2018 changes in April 2013 to become the higher of i) 9.875 per cent or
ii) the sum of the yield on the relevant benchmark treasury stock plus 2.5 per cent. The bonds may be redeemed in April 2013 at par
and redemption has also been allowed from April 1998, subject to the prior consent of the Financial Services Authority, for an
amount based on the redemption yields of the relevant benchmark treasury stocks.
2The interest margin on the Subordinated Step-up coupon floating rate notes 2010 increases by 0.5 per cent from April 2005. The
notes are repayable from their step up date at the option of the borrower, subject to the prior consent of the Financial Services
Authority.