Company: HBCYF
Filing Date: 2025-02-25
Form Type: 424B5
Source: 0001193125-25-034819
Chunk: 221

Company: HSBC HOLDINGS PLC
Filing Date: 2025-02-25
Form: 424B5
Chunk 221
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Assumption of Obligations Subject to applicable law and regulation (including, if and to the extent required by the Capital Instruments Regulations at such time, the prior consent of the Relevant Regulator), with respect to a series of contingent capital securities, a holding company of us or any of our subsidiary undertakings may assume our obligations (or those of any corporation which will have previously assumed our obligations); providedthat:

| • |     | the successor entity expressly assumes such obligations by an amendment to the contingent capital securities                                                                                                                                          
 indenture, in a form satisfactory to the trustee, and we will, by an amendment to the contingent capital securities indenture, unconditionally guarantee (such guarantee to be given on a basis consistent with the ranking of the contingent capital 
 securities of such series) all of such successor entity’s obligations under the contingent capital securities of such series and the contingent capital securities indenture, as so modified by such amendment (provided, however,                    
 that, for the purposes of our obligation to pay additional amounts as provided, and subject to the limitations as set forth, in the contingent capital securities indenture and as described under the section headed “Additional                     
 Amounts,” references to such successor entity’s country of organization will be added to the references to the UK);                                                                                                                                   |

| • |     | the successor entity confirms in such amendment to the contingent capital securities indenture that the successor                                                                                                              
 entity will pay to the holders such additional amounts as provided by, and subject to the limitations set forth in, the contingent capital securities indenture and as described under the section headed “Additional Amounts” 
 (provided, however, that for these purposes such successor entity’s country of organization will be substituted for the references to the UK); and                                                                             |

| • |     | immediately after giving effect to such assumption of obligations, no contingent capital event of default or                                                                                                                        
 default and no event which, after notice or lapse of time or both, would become a contingent capital event of default or default with respect to contingent capital securities of such series will have occurred and be continuing. |

Upon any such assumption, the successor entity will succeed to, and be substituted for, and may exercise all of our rights and powers under the contingent capital securities indenture with respect to the contingent capital securities of such series with the same effect as if the successor entity had been named under the contingent capital securities indenture. 39

For these purposes:

| (a) | “Capital Instruments Regulations” means any regulatory capital rules, regulations or standards which