FWD Group (HKG:1828) said it will redeem all outstanding $900 million 8.4% subordinated notes due 2029 on Oct. 23, at 101% of principal plus accrued interest, according to a Tuesday Hong Kong bourse filing.

Shares of the life insurer were down nearly 2% in Wednesday morning trade.

Separately, the company will also redeem all $750 million zero-coupon subordinated perpetual capital securities on the same date at 100% of principal plus accrued distribution.

Both redemptions are being carried out under clauses triggered by the company's initial public offering.

FWD said that after completion, no notes or securities will remain outstanding, and it will apply to withdraw its listings from the Hong Kong bourse.