HSBC 2004 Annual Report Download - page 288

HSBC HOLDINGS PLC
Notes on the Financial Statements (continued)
286
2004
US$m
2003
US$m
Amounts owed to HSBC undertakings
Amounts falling due after more than 1 year:
€1,400m 5.3687% fixed/floating subordinated notes 2043 –
HSBC Capital Funding (Euro 2) LP .................................................................... 1,894 1,748
US$1,350m 9.547% subordinated step-up cumulative notes 2040 –
HSBC Capital Funding (Dollar 1) LP................................................................... 1,338 1,338
US$1,250m 4.61% fixed/floating subordinated notes 2043 –
HSBC Capital Funding (Dollar 2) LP................................................................... 1,238 1,237
€750m 5.13% fixed/floating subordinated notes 2044 –
HSBC Capital Funding (Euro 3) LP. .................................................................... 1,012 –
£500m 8.208% subordinated step-up cumulative notes 2040 –
HSBC Capital Funding (Sterling 1) LP ............................................................... 958 884
US$900m 10.176% subordinated step-up cumulative notes 2040 –
HSBC Capital Funding (Dollar 1) LP .................................................................. 891 889
€600m 8.03% subordinated step-up cumulative notes 2040 –
HSBC Capital Funding (Euro 1) LP. .................................................................... 812 749
8,143 6,845
17,812 12,815
2004
US$m
2003
US$m
HSBC Holdings’ dated subordinated loan capital is repayable
– between 2 and 5 years ............................................................................................................. 1,408 –
– over 5 years ............................................................................................................................. 16,404 12,815
17,812 12,815
1The interest margins on the callable subordinated floating rate notes 2014 and the subordinated step-up coupon floating rate notes 2010
increase by 0.5 per cent from September 2009 and April 2005, respectively. 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.
2The 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.