Investor Presentaiton
HSBC SFH
Programme features
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Cash flow priorities
Pre-Enforcement Priority
Payment Order
Prior to any enforcement notice being served
1. Interest amounts due on the Covered Bonds
2. Principal amounts due on the Covered Bonds
3. Fees due and payable to the Administrator and
the Servicer
4. Amounts due and payable to the Cash Collateral
Provider
5. Other administrative and tax costs
6. Dividend to the Issuer's shareholders and any
payment under the subordinated loan
To be paid on any Payment Date
Controlled Post-Enforcement
Priority Payment Order
In the event of service by the Issuer to the
Borrower of a Borrower Enforcement Notice
1. Interest amounts due on the Covered Bonds
Principal amounts due on the Covered Bonds
Fees due and payable to the Administrator and
the Servicer
2.
3.
4. Amounts due and payable to the Cash Collateral
Provider
5. Other administrative and tax costs
6. Subject to full repayment of any outstanding
Covered Bonds, distribution of remaining
enforcement proceeds to the Borrower and
payment of dividend to the Issuer's shareholders
and any payment under the
subordinated loan
In the event of service by the Issuer
Accelerated Post-Enforcement
Priority Payment Order
An Issuer Event of Default will result in an
Issuer Enforcement Notice and an Accelerated
Post-Enforcement Priority Payment Order
1. Interest amounts due on the Covered Bonds
2. All principal outstanding amounts under the
Covered Bonds
3. Fees due and payable to the Administrator and
the Servicer
4. Amounts due and payable to the Cash Collateral
Provider
5. Other administrative and tax costs
6. Subject to full repayment of any outstanding
Covered Bonds, distribution of remaining
enforcement proceeds to the Borrower and
payment of dividend to the Issuer's shareholders
and any payment under the
subordinated loan
Instruction to pay to be given within three
business days of receipt of Issuer
Enforcement Notice
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