Company: HBCYF
Filing Date: 2025-09-04
Form Type: 424B5
Source: 0001193125-25-195127
Chunk: 67

Company: HSBC HOLDINGS PLC
Filing Date: 2025-09-04
Form: 424B5
Chunk 67
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 by us in delivering the notices referred to in this paragraph to the noteholders or the trustee shall not affect the validity or enforceability of the UK bail-inpower. By purchasing the Notes, each noteholder (which, for these purposes, includes each beneficial owner) will be deemed to have authorized, directed and requested DTC and any direct participant in DTC or other intermediary through which it holds such Notes to take any and all necessary action, if required, to implement the exercise of any UK bail-inpower with respect to the Notes as it may be imposed, without any further action or direction on the part of such noteholder, the trustee or the paying agent. Modification and Waiver In addition to our and the trustee’s rights to modify and amend the Indenture described in the accompanying prospectus under “ Description of Debt Securities—Modification and Waiver”, modifications of, and amendments to, the terms of the Indenture or the Notes may be made by us and the trustee, without the further consent of the noteholders, to the extent necessary to give effect to the exercise by the relevant UK resolution authority of the UK bail-inpower. Moreover, we will agree not to amend the consent of the noteholders to the exercise of the UK bail-inpower (see “ —Agreement with Respect to the Exercise of UK Bail-inPower”) without the prior consent of the Relevant Regulator, if and to the extent then required pursuant to the Applicable Rules. Trustee and Trustee’s Duties The Bank of New York Mellon is the trustee under the Indenture. The trustee will undertake certain procedures and seek certain remedies in the event of an Event of Default or a Default. See “ Description of Debt Securities—Trustee’s Duties” in the accompanying prospectus. However, by its acquisition of the Notes, each noteholder (which, for these purposes, includes each beneficial owner) will S-47

acknowledge and agree that the exercise of the UK bail-inpower by the relevant UK resolution authority with respect to the Notes will not give rise to a Default or Event of Default for purposes of Section 315(b) ( Notice of Default) and Section 315(c) ( Duties of the Trustee in Case of Default) of the Trust Indenture Act. By its acquisition of the Notes, each noteholder (which, for these purposes, includes each beneficial owner), to the extent permitted by the Trust Indenture Act, will waive any and all claims, in law