By Helene Durand
LONDON, Sept 9 (IFR) - HSBC Holdings has started to gatherinvestor interest for an inaugural CoCo, at 5.5% for a eurodenominated perpetual non-call eight year Additional Tier 1issue.
The deal is expected to be priced as early as Wednesday.
The UK bank is expected to tap the US dollar market with aperpetual non-call five and/or 10-year deals.
HSBC is the sole lead manager for the transaction which willconvert into equity if the bank's Common Equity Tier 1 ratiofalls below 7% trigger. (Reporting by Helene Durand)