Company: HBCYF
Filing Date: 2025-06-02
Form Type: 424B5
Source: 0001193125-25-132352
Chunk: 31

Company: HSBC HOLDINGS PLC
Filing Date: 2025-06-02
Form: 424B5
Chunk 31
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 Offer Consideration).                                                                                                                                                                       |

| Agreement with Respect to the Exercise of UK Bail-in Power | By its acquisition of the Securities, each securityholder (which, for these purposes, includes each beneficial owner) will acknowledge, accept, consent                                                                                                                                                                                                                      
 and agree, notwithstanding any other term of the Securities, the Indenture or any other agreements, arrangements or understandings between us and any securityholder, to be bound by (a) the effect of the exercise of any UK bail-in power (as defined under “Description of the Securities—Agreement with Respect to the Exercise of UK Bail-in Power”) by the relevant UK 
 resolution                                                                                                                                                                                                                                                                                                                                                                   |

S-19

| authority (as defined under “Description of the Securities—Agreement with Respect to the Exercise of UK Bail-in Power”); and                                                                                                                
 (b) the variation of the terms of the Securities or the Indenture, if necessary, to give effect to the exercise of any UK bail-in power by the relevant UK resolution authority. No repayment or payment of                                 
 Amounts Due will become due and payable or be paid after the exercise of any UK bail-in power by the relevant UK resolution authority if and to the extent such amounts have been reduced, converted, cancelled,                            
 amended or altered as a result of such exercise. For these purposes, “Amounts Due” are the principal amount of, and any accrued and unpaid interest, including any Additional Amounts (as defined under “Description of Contingent          
 Capital Securities—Additional Amounts” in the accompanying prospectus), on, the Securities. References to such amounts will include amounts that have become due and payable, but which have not been paid, prior to the exercise of any UK 
 bail-in power by the relevant UK resolution authority. See “Description of the Securities—Agreement with Respect to the Exercise of UK Bail-in                                                                                              
 Power.”                                                                                                                                                                                                                                     |

| Moreover, each securityholder (which, for these purposes, includes each beneficial owner) will consent to the exercise of the UK bail-in power as it may be imposed without any 
 prior notice by the relevant UK resolution authority of its decision to exercise such power with respect to the Securities.                                                     |

| For the avoidance of doubt, the potential conversion of the Securities into shares, other securities or other obligations in connection with the exercise of any UK bail-in power 
 by the relevant UK resolution authority is separate and distinct from an Automatic Conversion following a Capital Adequacy Trigger Event.                                         |

| Payment of Additional Amounts | We