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HSBC Finance Corp., 6.36% Dep Shares, Non-Cumulative Preferred Stock, Series B
Ticker Symbol: HSFC-B* CUSIP: 40429C607 Exchange: NYSE
* NOTE: This security is no longer trading as of 6/30/2016
Security has been Called for: Thursday, June 30, 2016
May 16, 2016 - HSBC Finance Corporation is announcing the redemption of $575 million of 6.36% Non-Cumulative Preferred Stock, Series B. This redemption will affect all of the 575,000 preferred securities of that series and 23,000,000 depositary shares, each representing one-fortieth of a share of 6.36% Non-Cumulative Preferred Stock, Series B (ticker symbol: HSFC PR B). The depositary shares are listed on the New York Stock Exchange under the above ticker symbol. The redemption date for the series of preferred securities is June 30, 2016. The cash redemption price payable for the depositary shares on the redemption date will equal $25 liquidation preference per depositary share (which is equivalent to $1,000 liquidation preference per share of 6.36% Non-Cumulative Preferred Stock, Series B), plus an amount equal to the dividends accrued but unpaid for the then-current dividend period to but excluding the redemption date.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: HSBC Finance Corp., 6.36% Depositary Shares each representing 1/40 of a share of 6.36% Non-Cumulative Preferred Stock, Series B, liquidation preference $25 per depositary share, redeemable at the issuer's option on or after 6/24/2010 at $25 per depositary share plus declared and unpaid dividends, with no stated maturity, and with non-cumulative distributions of 6.36% ($1.59) per annum paid quarterly, if declared by the board of directors, on 3/15, 6/15, 9/15 & 12/15 to holders of record on the date fixed by the board, not more than 60 days or less than 10 days prior to the payment date. Dividends paid by these preferred shares are eligible for the preferential income tax rate of 15% to a maximum of 20% depending on the holder's tax bracket (and under IRS specified holding restrictions) but, since they are issued by a foreign company, are NOT eligible for the dividends received deduction for corporate holders. In regards to payment of dividends and upon liquidation, the preferred shares rank equally with other preferreds and senior to the common shares of the company. See the IPO prospectus for further information on the preferred stock by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (HSBC)
IPO - 6/17/2005 - 20.00 Million Shares @ $25.00/share.
Link to IPO Prospectus
Market Value $500.0 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 |
224-544-4400 |
| Fax Number |
847-383-3331 |
| Investor Relations
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224-880-8008
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Toll Free Phone Number |
Unknown |
| CEO - Stuart Gulliver |
FN - Iain Mackay |
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