HSBC Bank Canada has completed its $250 million offering of preferred shares, the bank said Wednesday.

The 10 million Non-Cumulative 5-Year Rate Reset Class 1 Preferred Shares Series E were issued at a price of $25 a share.

The offering was made through a syndicate of underwriters led by HSBC Securities (Canada) Inc. and Scotia Capital Inc. The underwriters exercised an option to purchase 3 million Preferred Shares Series E in addition to the 7 million shares that they had previously agreed to purchase.

The Preferred Shares Series E commenced trading Wednesay on the Toronto Stock Exchange under the ticker symbol HSB.PR.E.

IE