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HSBC Holdings PLC-American Depository Shares
Old 09-13-2005, 02:34 PM   #1
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HSBC Holdings PLC-American Depository Shares

Does this look like a low-risk investment and a good income generator? Of course the 2010 callable part makes it good for really 5 years, one could argue. The best 5 year CDs are still only giving 5+% yield right now.

New Issue Preferred Security
15.00% Dividend Tax Rate Eligible

Description:HSBC Holdings PLC-American Depository Shares
Expected Coupon: 6.125-6.250%-Estimated
Rating:A1/A- Moody's/ Standard & Poor's
Price: $25.00
Maturity: Perpetual
Call: 2010 @ $25.00
Payment: Quarterly-Non-Cumulative
Tax Status: 15% Dividend Rate

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Re: HSBC Holdings PLC-American Depository Shares
Old 09-13-2005, 02:43 PM   #2
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Posts: 18,085
Re: HSBC Holdings PLC-American Depository Shares

Looks low risk from a credit perspective. However, note that this is a perpetual preferred, so if rates spike, you get killed.
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