Company: HBCYF
Filing Date: 2025-02-25
Form Type: 424B5
Source: 0001193125-25-034819
Chunk: 199

Company: HSBC HOLDINGS PLC
Filing Date: 2025-02-25
Form: 424B5
Chunk 199
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 holder of such class of preference shares would receive an equivalent amount. Defaults and Events of Default.Unless otherwise provided in a prospectus supplement with respect to any series of subordinated debt securities, it will be an event of default with respect to subordinated debt securities of a series if:

| (a) | an order is made by an English court which is not successfully appealed within 30 days after the date such                                            
 order was made for our winding up other than in connection with a scheme of amalgamation or reconstruction not involving bankruptcy or insolvency; or |

| (b) | an effective resolution is validly adopted by our shareholders for our winding up other than in connection with 
 a scheme of amalgamation or reconstruction not involving bankruptcy or insolvency.                              |

Unless otherwise provided in a prospectus supplement with respect to any series of dated subordinated debt securities and subject to the paragraph below relating to circumstances in which a relevant failure will not be a default, it will be a default with respect to dated subordinated debt securities of a series if any one of the following events occurs:

| (a) | failure to pay principal or premium, if any, on the dated subordinated debt securities of such series at 
 maturity, and such default continues for a period of 30 days; or                                         |

| (b) | failure to pay any interest on the dated subordinated debt securities of such series when due and payable, 
 which failure continues for 30 days.                                                                       |

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Unless otherwise provided in a prospectus supplement with respect to any series of undated subordinated debt securities and subject to the paragraph below relating to circumstances in which a relevant failure will not be a default, it will be a default with respect to undated subordinated debt securities of a series if:

| (a) | any missed payment is not paid on or prior to any date on which a dividend is paid on any class of our share 
 capital and such failure continues for 30 days; or                                                           |

| (b) | all or any part of the principal of (or premium, if any, on), or any accrued but unpaid interest and any missed                                      
 payments on the date fixed for redemption of, such undated subordinated debt securities is not paid when due and such failure continues for 30 days. |

If a default occurs, the trustee may institute proceedings in England (but not elsewhere) for our winding up provided that the trustee may not, upon the occurrence of a default on the subordinated debt securities, accelerate the maturity of any of