Company: HBCYF
Filing Date: 2025-09-04
Form Type: 424B5
Source: 0001193125-25-195127
Chunk: 26

Company: HSBC HOLDINGS PLC
Filing Date: 2025-09-04
Form: 424B5
Chunk 26
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| Use of Proceeds | We expect to use the proceeds from the sale of the Notes for general corporate purposes and to maintain or further strengthen our capital base pursuant to the requirements under Regulation (EU) No. 575/2013 on prudential requirements for 
 credit institutions and investment firms of the European Parliament and of the Council of June 26, 2013, as amended or supplemented, as it forms part of domestic law in the UK by virtue of the EUWA (the “UK CRR”).                         |

| Conflicts of Interest | HSI is an affiliate of HSBC Holdings, and, as such, is deemed to have a “conflict of interest” under FINRA Rule 5121. Accordingly, the offering of the Notes is being conducted in compliance with the requirements of FINRA Rule 5121     
 (addressing conflicts of interest when distributing the securities of an affiliate), as administered by the Financial Industry Regulatory Authority (“FINRA”). Neither HSI nor any of our other affiliates will sell any Notes into any of 
 its discretionary accounts without the prior specific written approval of the accountholder.                                                                                                                                               |

| Minimum Denominations | The Notes 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 the City of New York, United States. |

| Recent Developments | On September 2, 2025, we announced tender offers (the “Tender Offers”) for the outstanding principal amount of (a) $263,654,000 7.625% Subordinated Notes due 2032, (b) $124,748,000 7.350% Subordinated Notes due 2032, (c) 
 $1,430,811,000 6.500% Subordinated Notes due 2036 and (d) $961,295,000 6.800% Subordinated Notes due 2038 (collectively, the “Tender Notes”).                                                                                |

The Tender Offers are being made on the terms and subject to the conditions set forth in an offer to purchase, dated September 2, 2025 (the “Offer to Purchase”). The Tender Offers are subject to customary S-19

| conditions, as set forth in the Offer to