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HSBC Finance Corp., 8.875% Adj Conv-Rate Equity Security Units due 2/15/2006
Ticker Symbol: HI-E* CUSIP: 40429C409 Exchange: NYSE
* NOTE: This security is no longer trading as of 2/15/2006
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QUANTUMONLINE.COM SECURITY DESCRIPTION: HSBC Finance Corp., formerly Household Intl Inc., 8.875% Adjustable Conversion-Rate Equity Security Units, stated amount $25 per unit, initially consisting of Normal Units which include a stock purchase contract and a 8.875% senior note of Household Finance Corp. with a principal amount of $25. The stock purchase contract requires the holder to purchase for $25 a variable number of shares of Household Intl (NYSE: HI) common stock no later than 2/15/2006. The stock purchase settlement rate will be 0.9735 shares per unit if the then current market price is equal to or greater than $25.68 and 1.1682 shares per unit if the market price is equal to or less than $21.40. For market prices between those values the settlement rate will be $25 divided by the market value. Prior to the IPO of this security, the last reported sale price of the common stock on 10/24/2002 was $22.83. The senior note is due 2/15/2008 and is subject to reset and remarketing on or after 11/15/2005. The Normal Units pay quarterly distributions of 8.875% ($2.21875) per annum on 2/15, 5/15, 8/15 & 11/15 to holders of record one business day prior to the payment date while the securities remain in book-entry form. The senior notes are pledged as collateral to secure the holder's obligations under the stock purchase contract. The holder has the right at any time to convert the Normal Units to Stripped Units by the substitution of a specified zero-coupon U.S. Treasury security for the senior notes and to later recreate Normal Units. The senior notes are unsecured and rank equally with the company's other unsecured senior indebtedness. See the IPO prospectus for extensive additional information on the equity units and their mandatory conversion provisions by clicking on the ‘Link to IPO Prospectus’ provided below.
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Stock
Exchange |
Cpn Rate
Ann Amt |
LiqPref
CallPrice |
Call Date
Matur Date |
Moodys/S&P
Dated |
Conversion
Shares@Price |
Distribution Dates |
15%
Tax Rate |
NYSE
Chart
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8.88%
$2.21875
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$25.00
N/A
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2/15/2006
2/15/2008
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A1
A
9/19/2005
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0.9735@$ 25.68+
1.1682@$21.40-
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2/15, 5/15, 8/15 & 11/15
Click for MW ExDiv Date
Click for Yahoo ExDiv Date
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No
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Go to Parent Company's Record (HBC)
Notes: The conversion values for the securities in terms of HSBC Holdings plc (NYSE: HBC) shares are as follows: The Adjustable Conversion-Rate Equity Security Units each consist of an HFC senior unsecured note with a principal amount of $25 and a contract to purchase, for $25, between 2.6041 and 3.1249 HSBC ordinary shares, depending on the market value at the time, on February 15, 2006 or 2.6041 HSBC ordinary shares if early settlement is elected by the holder.
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IPO - 10/28/2002 - 20.00 Million Units @ $25.00/unit.
Link to IPO Prospectus
Market Value $555.0 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Foreign Address and Phone Numbers |
| Address: 8 Canada Square, London E14 5HQ, United Kingdon |
| Main Phone Number |
+44-20-7991-8888 |
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Inv Rel Phone Number
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+44-20-7991-8041 |
| Address and Phone Numbers |
| U.S. Representative |
HSBC North America Holdings Inc. |
| Address: 26525 N. Riverwoods Boulevard, Mettawa, IL 60045 |
| Main Phone Number |
212-525-5000 |
| Fax Number |
224-544-4400 |
| Investor Relations
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224-544-4400
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Toll Free Phone Number |
Unknown |
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