Company: HBCYF
Filing Date: 2025-02-25
Form Type: 424B5
Source: 0001193125-25-034819
Chunk: 31

Company: HSBC HOLDINGS PLC
Filing Date: 2025-02-25
Form: 424B5
Chunk 31
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 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.”                                                                                                                                                                                                                                                                                      |

S-20

| 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 will pay Additional Amounts in respect of the Securities in the circumstances described under “Description of Contingent Capital Securities—Additional Amounts” in the accompanying prospectus. |

| Subordination | The Securities will constitute our direct, unsecured and subordinated obligations, ranking equally without any preference among themselves. The rights and claims of the securityholders in respect of, or arising from, the Securities will be 
 subordinated to the claims of Senior Creditors.                                                                                                                                                                                                 |

| “Senior Creditors” means our creditors (i) who are unsubordinated creditors; (ii) whose claims are, or are expressed to be, subordinated to the claims of our unsubordinated creditors but not further                                  
 or otherwise; or (iii) whose claims are, or are expressed to be, junior to the claims of our other creditors, whether subordinated or unsubordinated, other than those whose claims rank, or are expressed to rank, pari passu with, or 
 junior to, the claims of the securityholders in a winding-up occurring prior to a Capital Adequacy Trigger Event. For the avoidance of doubt, holders of any of our existing or future Tier 2 capital instruments                       
 will be Senior Creditors.                                                                                                                                                                                                               |

| Form of Securities | The Securities will be issued in the form of one or more global securities registered in the name of the nominee for, and deposited with, DTC. See “Description of Contingent Convertible Securities—Form, Settlement and 
 Clearance” in the accompanying prospectus.                                                                                                                                                                                |

| Trading through DTC, Clearstream Luxembourg and Euroclear | Initial settlement for the Securities will be made in immediately available funds