Chicago, Sept. 19 – HSBC Bank plc priced $50 million of zero-coupon callable accreting notes due Sept. 27, 2042, according to a 424B2 filing with the Securities and Exchange Commission.
The notes are callable annually on optional redemption dates. The annual yield is 5.05% compounded annually. The expected redemption price per $1,000 principal amount of notes is $1,159.28 if the notes are redeemed on the first redemption date and $2,549.91 if they are redeemed on the last redemption date, Sept. 27, 2041.
If the notes have not been called, the payout at maturity will be $2,678.68 per $1,000 principal amount of notes.
The notes have been approved for listing on the New York Stock Exchange under the symbol "HBEU/42A."
HSBC Securities (USA) Inc. is the underwriter.
| Issuer: | HSBC Bank plc
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| Issue: | Callable accreting notes
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| Amount: | $50 million
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| Maturity: | Sept. 27, 2042
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| Coupon: | 0%
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| Price: | Par
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| Payout at maturity: | $2,678.68 per $1,000 principal amount of notes if notes have not already been called
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| Call: | Annually at par plus compounded annual yield of 5.05%, at issuer’s option
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| Pricing date: | Sept. 13
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| Settlement date: | Sept. 27
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| Underwriter: | HSBC Securities (USA) Inc.
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| Fees: | None
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| Listing: | NYSE: HBEU/42A
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| Cusip: | 40442B2A4
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