Company: HBCYF
Filing Date: 2025-02-25
Form Type: 424B5
Source: 0001193125-25-034819
Chunk: 72

Company: HSBC HOLDINGS PLC
Filing Date: 2025-02-25
Form: 424B5
Chunk 72
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 resolution authority may decide to apply a deferred bail-in, where liabilities are not written down at the start of the resolution but are transferred to a depositary to hold during the bail-in period with the write-down being
determined at a later point in the bail-in period.

Accordingly, it is not yet possible to assess
the full impact of the exercise of the UK bail-in power pursuant to the Banking Act or otherwise on us, and there can be no assurance that the taking of any actions contemplated therein would not adversely
affect your rights, the price or value of your investment in the Securities and/or our ability to satisfy our obligations under the Securities.

By purchasing the Securities, each securityholder acknowledges, agrees to be bound by and consents to the exercise of any UK bail-in power by the relevant UK resolution authority.

We may issue securities senior to, or pari passu with, the Securities or the Conversion Shares.

There is no restriction on the amount of securities that we may issue, incur or guarantee,
that rank senior to, or pari passu with, the Securities or the Conversion Shares. In particular, the FSB final standards for TLAC requirements for global systemically important banks (“G-SIBs”) have
now been implemented in the UK by the Bank of England using its existing powers under the Banking Act. The Bank of England published its statement of policy on its approach to setting MREL in June 2018, which was updated in December 2021. The
updated policy has not changed the MREL calibration framework applicable to G-SIBs which have been subject to end-state MREL requirements from January 1, 2022. The
policy also sets out internal MREL requirements that apply to some of our UK subsidiaries. In addition, we are subject to the MREL requirement for G-SIIs under UK CRR, that has applied from June 27, 2019,
in addition to the requirements imposed by the Bank of England under the Banking Act. On November 30, 2022, HM Treasury launched a consultation on the technical and legislative changes necessary to facilitate the PRA’s proposed
implementation of Basel 3.1 under CP16/22. The PRA has now published its near final rules following CP16/22 in PS17/23 and PS9/24. In addition to the Basel 3.1 related measures and other proposals, HM Treasury’s consultation included a proposal
to amend the internal MREL provisions in UK CRR to align this with the