SYDNEY, July 16 (Reuters) - China's Ping An Insurance has raised $3.5 billion in a convertible bond, the company said in a regulatory filing on Tuesday.

The five-year bond's coupon was set at 0.875% per annum, paid semi-annually, Ping An said.

The bond's conversion price was set at HK$43.71 per share, the statement said. Ping An's Hong Kong stock is down 3.88% to HK$34.65, while the broader Hang Seng Index was down 1.26%.

The company's Shanghai listed stock is off nearly 3%. (Reporting by Scott Murdoch; Editing by Jacqueline Wong)