Company: HBCYF
Filing Date: 2025-02-25
Form Type: 424B5
Source: 0001193125-25-034819
Chunk: 136

Company: HSBC HOLDINGS PLC
Filing Date: 2025-02-25
Form: 424B5
Chunk 136
---
— General.” “Maximum Distributable Amount” means any applicable maximum distributable amount relating to us required to be calculated in accordance with (i) Rule 4.3(2) of Chapter 4; or (ii) any analogous restrictions arising in respect of failure to meet capital adequacy, loss absorbing capacity, leverage or buffer requirements under the Relevant Rules. “Monetary Judgment” has the meaning given to such term under “— Defaults and Remedies—Limited Remedies for Breach of Obligations (Other than Non -payment).” “New Conversion Condition” means the condition that will be satisfied if by not later than seven business days following the completion of a Takeover Event where the Acquirer is an Approved Entity, we have entered into arrangements to our satisfaction with the Approved Entity pursuant to which the Approved Entity irrevocably undertakes to the trustee, for the benefit of the securityholders, to (i) deliver the Approved Entity Shares to the Conversion Shares Depository upon a conversion of the Securities and (ii) ensure that, for so long as the Securities are outstanding, its ordinary share capital shall continue to constitute Approved Entity Shares, pursuant to, and subject to the conditions specified under, “— Qualifying Takeover 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) |

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. S-87

“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