HSBC Holdings plc (HSBA) has issued two tranches of senior unsecured notes totalling US$4.25 billion, the company announced on 3 November 2026. The issuance comprises US$1.75 billion of 5.819% Fixed Rate/Floating Rate Notes due 2032 and US$2.5 billion of 6.262% Fixed Rate/Floating Rate Notes due 2037. Both tranches were issued pursuant to an indenture originally dated 26 August 2009, as most recently supplemented by a 42nd supplemental indenture dated 3 November 2026. Investors in global banking debt markets may be watching the transaction closely given HSBC's scale and its active presence in international capital markets.

Key Points

  • HSBC Holdings plc (HSBA) — one of the world's largest banking and financial services organisations, headquartered in London
  • HSBC has issued US$4.25bn across two tranches of Fixed Rate/Floating Rate Senior Unsecured Notes maturing in 2032 and 2037
  • The 2032 notes carry a coupon of 5.819%; the 2037 notes carry a coupon of 6.262%; NYSE listing application has been made
  • Investors should watch for NYSE listing confirmation and any further capital markets activity from the group

HSBC Issues US$1.75bn 2032 Notes and US$2.5bn 2037 Notes in Dual-Tranche Transaction

The announcement confirms two distinct tranches of debt. The first is US$1,750,000,000 of 5.819% Fixed Rate/Floating Rate Senior Unsecured Notes due 2032. The second, and larger, tranche consists of US$2,500,000,000 of 6.262% Fixed Rate/Floating Rate Senior Unsecured Notes due 2037. Both are structured as fixed-to-floating rate instruments, a common format that offers a fixed coupon for an initial period before transitioning to a floating rate, giving HSBC flexibility in managing its long-term funding costs across different interest rate environments.

NYSE Listing Application Filed Under SEC Shelf Registration Statement

HSBC has confirmed that an application will be made to list both tranches of notes on the New York Stock Exchange. The offering was made pursuant to an effective shelf registration statement on Form F-3 filed with the US Securities and Exchange Commission. A prospectus supplement and accompanying prospectus have also been filed with the SEC, and are available free of charge via the EDGAR system on the SEC's website. The use of a shelf registration reflects HSBC's established access to US capital markets and its ability to execute large-scale debt issuances efficiently.

HSBC's Global Scale and US$3,445bn Asset Base Underpins Debt Issuance Capacity

The announcement notes that HSBC Holdings plc, the parent company of HSBC, is headquartered in London and serves customers from offices in 56 countries and territories. As at 30 September 2026, the group reported total assets of US$3,445 billion, positioning it among the world's largest banking and financial services organisations. This asset base underpins HSBC's capacity to access wholesale funding markets at scale, and senior unsecured issuances of this size are consistent with the group's broader approach to managing its funding structure across multiple currencies and maturities.