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FINWIRES

HSBC Sets Pricing for Tender Offer to Repurchase Four Series of Notes

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HSBC (HKG:0005) has set the pricing terms for its cash tender offers to repurchase four series of senior unsecured notes, according to a Hong Kong bourse filing on Thursday.

The September 2028 Notes carry the highest acceptance priority and will be repurchased at $975.63 per $1,000 principal, followed by the November 2028 Notes at $1,032.08, the May 2028 Notes at $1,009.75, and the March 2028 Notes at $999.31.

The repurchases are expected to be funded with proceeds from the company's new note issuance, totaling $6.75 billion, supplemented by cash on hand if needed.

Settlement is expected on Aug. 17, with accepted notes to be cancelled and retired, while holders will also receive accrued interest through the settlement date.

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