HSBC Holdings (00005) has announced plans to issue perpetual contingent convertible securities on March 24, 2026 (the issue date). The issuance includes $1.25 billion of 6.750% perpetual contingent convertible securities, redeemable during any optional redemption period for the 2031 securities (ISIN US404280FH76), alongside $1.25 billion of 7.000% perpetual contingent convertible securities, redeemable during any optional redemption period for the 2036 securities (ISIN US404280FJ33). Collectively, these are referred to as the relevant securities.