Company: HBCYF
Filing Date: 2025-02-25
Form Type: 424B5
Source: 0001193125-25-034819
Chunk: 33

Company: HSBC HOLDINGS PLC
Filing Date: 2025-02-25
Form: 424B5
Chunk 33
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 | A day on which commercial banks and foreign exchange markets settle payments and are open for general business (including dealings in foreign exchange and foreign currency deposits) in London, England, and in New York City, United States. |

S-22

| Governing Law and Jurisdiction | The Indenture and the Securities will be governed by, and construed in accordance with, the laws of the State of New York, except that the subordination provisions of the Indenture and of the Securities (see “Description of the                                                                                                                                             
 Securities—Subordination”) and the waiver of set-off provisions of the Indenture and the Securities (see “Description of Contingent Capital Securities—No Right of Set-Off by Holders” in the accompanying prospectus) will be governed by, and construed in accordance with, the laws of England and Wales. Any legal proceedings arising out of, or based upon, the Indenture 
 or the Securities may be instituted in any state or federal court in New York City, United States.                                                                                                                                                                                                                                                                              |

S-23

SUMMARY OF RISK FACTORS An investment in the Securities involves significant risk. Below is a summary of the principal factors that make an investment in the Securities speculative or risky. Importantly, this summary does not address all of the risks that we face. In addition to the summary below, you should consider carefully all of the information set forth in, or incorporated by reference into, this prospectus supplement and the accompanying prospectus, including the section entitled “Risk Factors” starting at page S-26,before you decide to invest in the Securities. Risks relating to the Securities being perpetual, subordinated and resettable instruments and to their credit rating

| • |     | The Securities are perpetual and have no fixed maturity and no fixed redemption date. You do not have the right 
 to accelerate the repayment of the principal amount of the Securities before HSBC Holdings is wound-up.         |

| • |     | We may redeem the Securities upon the occurrence of certain tax or regulatory events or during any Optional                                                                                        
 Redemption Period. Certain of such events may occur at any time after the Issue Date and it is therefore possible that we would be able to redeem the Securities at any time after the Issue Date. |

| • |     | The interest rate on the Securities will reset on each Reset Date. Following any Reset Date, the interest rate on                                
 the Securities may be less than the applicable Initial Interest Rate and/or the interest rate that applies immediately prior to such Reset Date.