Company: HBCYF
Filing Date: 2025-06-02
Form Type: 424B5
Source: 0001193125-25-132352
Chunk: 141

Company: HSBC HOLDINGS PLC
Filing Date: 2025-06-02
Form: 424B5
Chunk 141
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 Event.” “New Conversion Price” means an amount (in U.S. dollars) per Approved Entity Share determined by us in accordance with the following formula:

| NCP = ECP X |     | RS(Average)  |
|             |     | OS (Average) |

S-87

where:

“NCP” means the New Conversion Price.

“ECP” means the Conversion Price in effect on the Exchange Business Day immediately prior to the QTE Effective Date.

“RS (Average)” means the arithmetic average of the Volume Weighted Average Price per Approved Entity Share (converted, if necessary,
into U.S. dollars at the Prevailing Rate on the relevant Exchange Business Day) on each of the 10 Exchange Business Days ending on the Exchange Business Day prior to the date the Qualifying Takeover Event occurred.

“OS (Average)” means the arithmetic average of the Volume Weighted Average Price of our Ordinary Shares (converted, if necessary,
into U.S. dollars at the Prevailing Rate on the relevant Exchange Business Day) on each of the 10 Exchange Business Days ending on the Exchange Business Day prior to the date the Qualifying Takeover Event has occurred.

“New Conversion Shares Offer Price” means the New Conversion Price initially calculated following the occurrence of a Qualifying
Takeover Event converted into pounds sterling based on an exchange rate of £1.00 = $1.3495.

“Non-payment Event” has the meaning given to such term under “—Defaults and Remedies—Non-paymentEvent.”

“Notice
Cut-off Date” means the date specified as such in the Automatic Conversion Settlement Request Notice, which date will be at least 40 business days following the Suspension Date.

“OECD” means Organization for Economic Co-operation and Development.

“Optional Redemption” has the meaning given to such term under “—Redemption—Optional Redemption.”

“Optional Redemption Date” has the meaning given to such term under “—Redemption—Optional Redemption.”

“Optional Redemption Period” has the meaning given to such term under
“—Redemption—Optional Redemption.”

“Ordinary Share” means a fully paid ordinary share in the
capital of HSBC Holdings, currently with a nominal value of U.S.$0.50 each;

“Ordinary Shareholder” means a holder of Ordinary
Shares;

“Outstanding Amount” has the meaning given to such term under “—Conversion Shares.”

“Parity Obligations” means, (i) the most senior ranking class or classes of preference shares in our capital from