Company: HBCYF
Filing Date: 2025-06-02
Form Type: 424B5
Source: 0001193125-25-132352
Chunk: 33

Company: HSBC HOLDINGS PLC
Filing Date: 2025-06-02
Form: 424B5
Chunk 33
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 the Global Exchange Market, which is an exchange-regulated market of Euronext Dublin (the “GEM”). The GEM is not a regulated market for the purposes of MiFID II or UK MiFIR.            |

| Sinking Fund | The Securities will not be subject to any sinking fund. |

| Paying Agent | HSBC Bank USA, National Association, or its successor appointed by us pursuant to the Indenture. |

| Calculation Agent | HSBC Bank USA, National Association, or its successor appointed by us, pursuant to a calculation agent agreement expected to be entered into on the Issue Date. |

| Use of Proceeds | We intend to use the net proceeds from the sale of the Securities for general corporate purposes and to maintain or further strengthen our capital base pursuant to requirements under the Relevant Rules. |

| Conflicts of Interest | HSI is an affiliate of HSBC Holdings, and, as such, is deemed to have a “conflict of interest” under Rule 5121 of the Financial Industry 
 Regulatory Authority (“FINRA”). Accordingly, the offering of the Securities is being conducted in compliance with the requirements of    |

S-21

| FINRA Rule 5121 addressing conflicts of interest when distributing the securities of an affiliate, as administered by FINRA. Neither HSI nor any of our other affiliates will sell any Securities 
 into any of its discretionary accounts without the prior specific written approval of the accountholder.                                                                                          |

| Minimum Denominations | The Securities will be issued only in registered form in minimum denominations of $200,000 and in integral multiples of $1,000 in excess thereof. |

| Business Day | 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. |

| 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