HSBC Bank Canada to redeem Subordinated Debentures

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HSBC Bank Canada to redeem Subordinated Debentures

Canada NewsWire

VANCOUVER, Feb. 9, 2017 /CNW/ - HSBC Bank Canada today announced its intention to redeem all $400,000,000 of its 4.80% Subordinated Debentures Series D due 10 April 2022 (the "Debentures"). In accordance with their terms, the Debentures will be redeemed at 100% of their principal amount plus accrued interest to the redemption date. The redemption will occur on 10 April 2017 and will be financed out of the general corporate funds of HSBC Bank Canada.

HSBC Bank Canada, a subsidiary of HSBC Holdings plc, is the leading international bank in the country. We help companies and individuals across Canada to do business and manage their finances internationally through three global business lines: Commercial Banking, Global Banking and Markets, and Retail Banking and Wealth Management. HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. The Group serves customers worldwide from around 4,400 offices in 71 countries and territories in Europe, Asia, North and Latin America, and the Middle East and North Africa. With assets of US$2,557bn at 30 September 2016, HSBC is one of the world's largest banking and financial services organizations.

For more information visit www.hsbc.ca  or follow us on Twitter @HSBC_CA 

SOURCE HSBC Bank Canada

To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/February2017/09/c5525.html

Copyright CNW Group 2017

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