Company: HBCYF
Filing Date: 2025-02-27
Form Type: 424B5
Source: 0001193125-25-039401
Chunk: 152

Company: HSBC HOLDINGS PLC
Filing Date: 2025-02-27
Form: 424B5
Chunk 152
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 successor entity’s country of organization will be substituted for the references to the UK); and                                                                                                                                             |

| • |     | immediately after giving effect to such assumption of obligations, no event of default or default and no event                                                                 
 which, after notice or lapse of time or both, would become an event of default or default with respect to debt securities of such series will have occurred and be continuing. |

Upon any such assumption, the successor entity will succeed to, and be substituted for, and may exercise all of our rights and powers under the relevant indenture with respect to the debt securities of such series with the same effect as if the successor entity had been named under the relevant indenture. 26

For these purposes:

| (a) | “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 UK Banking Act 2009, as amended (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 company or any subsidiary of any such holding company), in each case as amended, supplemented or replaced from time to time; and                                                                    |

| (b) | “Loss Absorption Regulations” means, at any time, the laws, regulations, requirements, guidelines,                                                                                                                                                     
 rules, standards and policies from time to time relating to minimum requirements for own funds and eligible liabilities and/or loss absorbing capacity instruments in effect in the United Kingdom and applicable to us from time to time, including,  
 without limitation to the generality of the foregoing, the Banking Act and UK CRR (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.                                                                                                                                           |

Defeasance and Discharge If so specified in the applicable prospectus supplement with respect to debt securities of a series that are payable only in U.S. dollars, we will be discharged from any and all obligations in respect of the debt securities of such series (with certain exceptions) if,