Company: HBCYF
Filing Date: 2025-06-02
Form Type: 424B5
Source: 0001193125-25-132352
Chunk: 88

Company: HSBC HOLDINGS PLC
Filing Date: 2025-06-02
Form: 424B5
Chunk 88
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 December 31, 2024.

The following exchange rate
as of December 31, 2024 has been used in this section: £1.00 = US$1.25445, A$1.00 = US$0.62000, €1.00 = US$1.03750, CHF1.00 = US$1.10442 and SGD1.00 = US$0.73349.

S-54

DESCRIPTION OF THE SECURITIES

The following summary description of certain material terms and provisions of the Securities supplements the description of certain terms and provisions of the contingent convertible securities of any series set forth in the accompanying prospectus under the heading “Description of Contingent Convertible Securities.” The terms described here, together with the relevant terms of contingent convertible securities contained in the accompanying prospectus, constitute a description of the material terms of the Securities. In cases of inconsistency between the terms described here and the relevant terms of the prospectus, the terms presented here will apply and replace those described in the prospectus.

The Securities will constitute a series of contingent
convertible securities issued under the indenture dated as of August 1, 2014 (as amended and supplemented from time to time) among us, The Bank of New York Mellon, London Branch, as trustee, and HSBC Bank USA, National Association, as paying
agent and registrar, the form of which is filed as an exhibit to our registration statement on Form F-3 (the “Registration Statement”). The indenture will be supplemented and amended by an eighteenth
supplemental indenture, which is expected to be entered into on the Issue Date among us, the trustee and HSBC Bank USA, National Association, as paying agent, registrar and calculation agent (the indenture, together with the eighteenth supplemental
indenture, the “Indenture”), which will be filed as an exhibit to a report on Form 6-K on or about June 5, 2025, which will be incorporated by reference in the Registration Statement.

If you purchase the Securities, your rights will be determined by the Securities, the Indenture and the Trust Indenture Act of 1939, as
amended (the “Trust Indenture Act”), unless your Securities are converted to Conversion Shares after a Capital Adequacy Trigger Event as described under “—Automatic Conversion Upon Capital Adequacy Trigger Event,” in
which case your rights will be determined in accordance with the terms of our Ordinary Shares as