HSBC (HKG:0005) priced its previously launched tender offer to repurchase $2.78 billion worth of debt, according to a Hong Kong bourse filing on Tuesday.

The bank is offering to buy $263.7 million of 7.625% subordinated notes due 2032; $124.7 million of 7.35% subordinated notes due 2032; $1.43 billion of 6.5% of subordinated notes due 2036; and $961.3 million of 6.80% subordinated notes due 2038.

HSBC is offering $1,158.49 for every $1,000 worth of 7.625% notes tendered; $1,149.12 for every $1,000 of the 7.35% notes tendered; $1,117.55 for every $1,000 of the 6.5% notes tendered; and $1,146.75 for every $1,000 of the 6.8% of the notes tendered.

The offer will expire at 5 p.m. ET on Sept. 8, unless extended, the lender said.