HSBC 2005 Annual Report Download - page 314

HSBC HOLDINGS PLC
Notes on the Financial Statements (continued)
312
or (iii) in view of the deteriorating financial condition of HSBC Bank, the Directors expect (ii) to occur in the
near term, then the Preferred Securities will be substituted by Preference Shares of HSBC Bank having
economic terms which are in all material respects equivalent to those of the Preferred Securities and the
guarantee taken together.
HSBC Holdings
Carrying amount
2005 2004
US$m US$m
Subordinated liabilities:
– at amortised cost .................................................................................................................... 5,236 17,812
– designated at fair value .......................................................................................................... 13,370 –
18,606 17,812
2005
US$m
2004
US$m
HSBC Holdings’ dated subordinated loan capital is repayable:
– between 2 and 5 years ........................................................................................................... 2,723 1,408
– over 5 years ........................................................................................................................... 15,883 16,404
18,606 17,812
HSBC Holdings subordinated borrowings
Amounts falling due after
more than 1 year
2005
US$m
2004
US$m
Amounts owed to third parties
€2,000m Callable subordinated floating rate notes 20141 ......................................... 2,374 2,730
US$1,400m 5.25% subordinated notes 2012 ................................................................. 1,421 1,394
€1,000m 5.375% subordinated notes 2012 ............................................................... 1,322 1,360
£650m 5.75% subordinated notes 2027 ................................................................. 1,267 1,250
US$1,000m 7.5% subordinated notes 2009 ................................................................... 1,115 999
€700m 3.625% callable subordinated notes 20203 ................................................ 831 –
US$750m Callable subordinated floating rate notes 20151 ......................................... 749 –
£250m 9.875% subordinated bonds 20182 ............................................................ 595 478
US$488m 7.625% subordinated notes 2032 ............................................................... 482 481
€300m 5.5% subordinated notes 2009 ................................................................... 390 409
US$222m 7.35% subordinated notes 2032 ................................................................. 219 218
US$350m Subordinated step-up coupon floating rate notes 2010 .............................. –350
10,765 9,669