HSBC Bank Canada to redeem subordinated debentures

VANCOUVER , Nov. 23 /CNW/ - HSBC Bank Canada today announced its intention to redeem all $100,000,000 of its 4.39% subordinated debentures due 21 January 2015 (the "Debentures"). In accordance with their terms, the Debentures will be redeemed at 100% of their principal amount plus accrued interest to the redemption date. The redemption will occur on 21 January 2010 and will be financed out of the general corporate funds of HSBC Bank Canada .

HSBC Bank Canada , a subsidiary of HSBC Holdings plc, has more than 260 offices, including over 140 bank branches, and is the leading international bank in Canada . With around 8,500 offices in 86 countries and territories and assets of US$2,422 billion at 30 June 2009 , the HSBC Group is one of the world's largest banking and financial services organizations.

For further information: Media enquiries: Ernest Yee, Vice President, Corporate Affairs, HSBC Bank Canada, Tel: [phone]; Sharon Wilks, Senior Manager, Public Affairs, HSBC Bank Canada, Tel: [phone]