Company: HBCYF
Filing Date: 2025-02-25
Form Type: 424B5
Source: 0001193125-25-034819
Chunk: 32

Company: HSBC HOLDINGS PLC
Filing Date: 2025-02-25
Form: 424B5
Chunk 32
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. Secondary market trading between DTC participants will occur in the ordinary way in accordance with DTC’s rules and will be settled in immediately available 
 funds using DTC’s Same-Day Funds Settlement System. Secondary market trading between Clearstream Banking S.A. (“Clearstream Luxembourg”) customers and/or Euroclear Bank SA/NV                                                                  
 (“Euroclear”) participants will occur in the ordinary way in accordance with the applicable rules and operating procedures of Clearstream Luxembourg and Euroclear and will be settled using the procedures applicable to conventional          
 eurobonds in immediately available funds.                                                                                                                                                                                                       |

S-21

| Listing | Application has been made to The Irish Stock Exchange plc trading as Euronext Dublin (“Euronext Dublin”) for the approval of this document as listing particulars. Application has been made to Euronext Dublin for the Securities to be 
 admitted to the Official List and to trading on the Global Exchange Market, which is an exchange-regulated market of Euronext Dublin (the “GEM”). The GEM is not a regulated market for the purposes of MiFID II or UK MiFIR.            |

| Sinking Fund | The Securities will not be subject to any sinking fund. |

| Paying Agent | HSBC Bank USA, National Association, or its successor appointed by us pursuant to the Indenture. |

| Calculation Agent | HSBC Bank USA, National Association, or its successor appointed |

by us, pursuant to a calculation agent agreement expected to be entered into on the Issue Date.

| Use of Proceeds | We intend to use the net proceeds from the sale of the Securities for general corporate purposes and to maintain or further strengthen our capital base pursuant to requirements under the Capital Instruments Regulations. |

| Conflicts of Interest | HSI is an affiliate of HSBC Holdings, and, as such, is deemed to have a “conflict of interest” under Rule 5121 of the Financial Industry Regulatory Authority (“FINRA”). Accordingly, the offering of the Securities 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 FINRA. Neither HSI nor any of our other affiliates will sell any Securities into 
 any of its discretionary accounts without the prior specific written approval of the accountholder.                                                                                                                                                     |

| Minimum Denominations | The Securities 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