Subordinated Notes Issue

HSBC Holdings PLC
09 April 2008

                      HSBC ISSUANCE OF SUBORDINATED NOTES

On 9 April 2008, HSBC Holdings plc issued USD 2,200,000,000 of 8.125 per cent
Perpetual Subordinated Capital Securities (the "New Notes"). Application has
been made to list the New Notes on the New York 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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