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Form 8-K HSBC Finance Corp For: Oct 29

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October 29, 2015 4:27 PM EDT

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
________________________________
FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): October 29, 2015
__________________________________

Commission File Number 001-08198

HSBC FINANCE CORPORATION
(Exact name of registrant as specified in its charter)
Delaware
 
86-1052062
(State of incorporation)
 
(I.R.S. Employer Identification No.)
26525 North Riverwoods Boulevard, Suite 100, Mettawa, Illinois
 
60045
(Address of principal executive offices)
 
(Zip Code)

(224) 880-7000
Registrant’s telephone number, including area code

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


 


HSBC Finance Corporation


Item 8.01. Other Events.
On October 29, 2015, HSBC Finance Corporation (the “Registrant”) announced the redemption of a series of its capital trust securities with a redemption date of November 30, 2015.
A copy of the Registrant’s press release announcing the redemption is attached as exhibit 99.1 to this report and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(d)    Exhibits
Exhibit No.
 
Description
99.1
 
Press release dated October 29, 2015.



2

HSBC Finance Corporation


Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this Report to be signed on its behalf by the undersigned hereunto duly authorized.
Date:    October 29, 2015
HSBC FINANCE CORPORATION
 
 
 
By:
 
/s/ MICHAEL A. REEVES
 
 
Michael A. Reeves
 
 
Executive Vice President and
 
 
Chief Financial Officer




3

HSBC Finance Corporation


Exhibit Index
 
 
Exhibit No.
 
Description
99.1
 
Press release dated October 29, 2015.


4


EXHIBIT 99.1

HSBC Finance Corporation Announces Redemption of $1 Billion Capital Securities

New York - October 29, 2015 - HSBC Finance Corporation (“HSBC Finance”) is announcing the redemption, in whole, of $1,000,000,000 aggregate liquidation amount of capital securities (ticker symbol: HSFC/35).

The capital securities are listed on the New York Stock Exchange under the above ticker symbol. The redemption date is November 30, 2015. The cash redemption price payable on the redemption date will equal $100,000 per capital security, plus an amount equal to accrued and unpaid distributions thereon to the redemption date.

The redemption announced today was approved by the Federal Reserve Bank of New York as part of HSBC North America’s planned capital actions pursuant to the 2015 Comprehensive Capital Analysis and Review (CCAR), and reflects the strategy of HSBC North America Holdings Inc. and HSBC Finance of continuing to optimize their capital structures according to U.S. Basel III.

The redemption of the capital securities is a result of the concurrent redemption by HSBC Finance of its 5.911% Junior Subordinated Deferrable Interest Notes due 2035.

Beginning on the redemption date, the redeemed securities will no longer be considered outstanding and distributions will no longer accrue on such securities.

The Bank of New York Mellon Trust Company, N.A. is the paying agent for the capital securities. The address of the paying agent is 2 N. LaSalle Street, Suite 1020, Chicago, IL 60602.

Media inquiries:
Rob Sherman     +1 212-525-6905    [email protected]

This news release is issued by
HSBC North America Holdings Inc.

______________________________________________________________________________________________________
Notes to editors:
HSBC Finance Corporation, through its subsidiaries, owns and services a portfolio of residential real estate loans. HSBC Finance Corporation is a subsidiary of HSBC North America Holdings Inc.

Certain statements in this press release are "forward-looking statements" within the meaning of the rules and regulations of the U.S. Securities and Exchange Commission. These statements are based on management's current expectations and are subject




to uncertainty and changes in circumstances. Actual results and capital and other financial condition may differ materially from those included in these statements due to a variety of factors, including without limitation the actual completion of the announced redemptions, the completion of the final analysis of the capital impact on HSBC Finance Corporation and HSBC North America Holdings Inc. and as a result of the redemptions and the factors contained in HSBC Finance Corporation’s filings with the U.S. Securities and Exchange Commission, including without limitation the "Risk Factors" section of HSBC Finance Corporation’s 2014 Annual Report on Form 10-K. Precautionary statements included in such filings should be read in conjunction with this release.


Ends/all




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