February 22, 2017 / 7:13 AM / 6 months ago

BRIEF-Hsbc to start share buy-back of ordinary shares

Feb 22 (Reuters) - Hsbc Holdings Plc

* HSBC announces that, as outlined in its announcement on 21 february 2017, it will commence a share buy-back of HSBC's ordinary shares of $0.50 each for up to a maximum consideration of $1,000,000,000

* The purpose of the buy-back is to reduce HSBC's outstanding Ordinary Shares

* HSBC has entered into an irrevocable, non-discretionary agreement with Credit Suisse Securities to enable the purchase of ordinary shares by Credit Suisse, acting as principal, during the period running from 22 February 2017 and ending no later than 30 June 2017 Source text for Eikon: Further company coverage: (Reporting By Pamela Barbaglia)

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