Subordinated Notes Issue

HSBC Holdings PLC
08 April 2008



                      HSBC ISSUANCE OF SUBORDINATED NOTES


On 7 April 2008, HSBC Holdings plc issued GBP350,000,000 of 7 per cent
Subordinated Notes 2038 (the "New Notes"). Application has been made to list the
New Notes on the London Stock Exchange.

Note to editors

HSBC Holdings plc

HSBC Holdings plc serves over 128 million customers worldwide through around
10,000 offices in 83 countries and territories in Europe, the Asia-Pacific
region, the Americas, the Middle East and Africa. With assets of some US$2,354
billion at 31 December 2007, HSBC is one of the world's largest banking and
financial services organisations. HSBC is marketed worldwide as 'The world's
local bank'.


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