Company: HBCYF
Filing Date: 2025-09-04
Form Type: 424B5
Source: 0001193125-25-195127
Chunk: 70

Company: HSBC HOLDINGS PLC
Filing Date: 2025-09-04
Form: 424B5
Chunk 70
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 non-payment of principal and/or interest on the Notes.

Governing Law

The Indenture and the
Notes will be governed by, and construed in accordance with, the laws of the State of New York, except that the waiver of set-off provisions of the Indenture and the Notes and the subordination provisions of
the Indenture and the Notes will be governed by, and construed in accordance with, the laws of England and Wales. Any legal proceedings arising out of, or based upon, the Indenture or the Notes may be instituted in any state or federal court in the
City of New York, United States.

Listing

Application will be made for the Notes to be admitted to listing on the New York Stock Exchange.

Definitions

“Additional
Amounts” has the meaning given to that term under “Description of Debt Securities—Additional Amounts—Dated Subordinated Debt Securities” in the accompanying prospectus.

“Amounts Due” has the meaning given to that term under “—Agreement with Respect to the Exercise of UK Bail-inPower.”

“Applicable Rules” means, at any time, the laws, regulations,
requirements, guidelines and policies relating to capital adequacy (including, without limitation, as to leverage) then in effect in the United Kingdom including, without limitation to the generality of the foregoing, the UK CRR, the Banking Act and
any regulations, requirements, guidelines and policies relating to capital adequacy adopted by the Relevant Regulator from time to time (whether or not such requirements, guidelines or policies are applied generally or specifically to us or to us
and any of our holding or subsidiary companies or any subsidiary of any such holding company), in each case as amended, supplemented or replaced from time to time;

“Banking Act” means the UK Banking Act 2009, as amended.

S-49

“Base Indenture” has the meaning given to that term in the second paragraph of
this “Description of the Notes.”

“Benchmark Replacement” has the meaning given to that term under
“—Interest—Benchmark Transition Provisions.”

“Benchmark Replacement Adjustment” means
the first alternative set forth in the order below that can be determined by us (in consultation, to the extent practicable, with the calculation agent) or our designee (in consultation with us) as of the Benchmark Replacement Date:

(1) the spread adjustment (which may be a positive or negative value or zero) that has been (i) selected or recommended by
the Relevant