Company: HBCYF
Filing Date: 2025-02-25
Form Type: 424B5
Source: 0001193125-25-034819
Chunk: 138

Company: HSBC HOLDINGS PLC
Filing Date: 2025-02-25
Form: 424B5
Chunk 138
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 to the securityholders, out of quotations obtained by it from three recognized foreign exchange dealers selected by the Conversion Shares Depository, for value on such day; and |

| (b) | for all other purposes, the prevailing market currency exchange rate at the time at which such rate is                                                                                                   
 determined in the relevant market for foreign exchange transactions in such currencies for value on such day, as determined by us in our sole discretion and acting in a commercially reasonable manner. |

“Price” and “Prices” have the meanings given to such terms under “— Anti -dilution—Adjustmentof Conversion Price and Conversion Shares Offer Price.” “ pro ratacash component” has the meaning given to such term under “— Automatic Conversion Upon Capital Adequacy Trigger Event—Conversion Shares Offer.” “ pro rataConversion Shares component” has the meaning given to such term under “ —Automatic Conversion Upon Capital Adequacy Trigger Event—Conversion Shares Offer.” “QTE Effective Date” means the date with effect from which the New Conversion Condition will have been satisfied. “Qualifying Takeover Event” has the meaning given to such term under “ —Qualifying Takeover Event.” “Recognized Stock Exchange” means a regulated market (as defined in Regulation (EU) No 600/2014 as it forms part of UK domestic law by virtue of the EUWA) or another regulated, regularly operating, recognized stock exchange or securities market in the UK, the EEA or any OECD member state. “Reference Rate” has the meaning given to such term under “— Interest— General.” “Reference Treasury” has the meaning given to such term under “— Interest— General.” “Reference Treasury Dealer” has the meaning given to such term under “— Interest— General.” “Reference Treasury Dealer Quotation” has the meaning given to such term under “— Interest— General.” “Reference Treasury Rate” has the meaning given to such term under “— Interest— General.” “regulated entity” has the meaning given to such term under “— Agreement with Respect to the Exercise of UK Bail -inPower.” “Relevant Distributions” means, in relation to any interest payment date, the sum of (i) all distributions or interest payments made or declared by us since the end of the last financial year and prior to such interest payment date on or in respect of any Parity Securities, the Securities and any Junior Securities and (ii) all distributions or interest payments payable by us (and not cancelled or deemed to have been cancelled) on such