Company: HBCYF
Filing Date: 2025-06-02
Form Type: 424B5
Source: 0001193125-25-132352
Chunk: 26

Company: HSBC HOLDINGS PLC
Filing Date: 2025-06-02
Form: 424B5
Chunk 26
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 outstanding Securities plus any accrued and unpaid interest to (but excluding) the date of redemption (which interest will exclude any interest that is cancelled or deemed to have been cancelled as    
 described under “Description of the Securities—Interest—Interest Cancellation”). See “Description of the Securities—Redemption—Residual Call.”                                                                                                         |

| Any redemption of the Securities is subject to the conditions described under “Description of the Securities—Redemption—Redemption or Purchase Conditions.” |

S-15

| Notice of Redemption | Any redemption of the Securities will be subject to our giving prior notice to the securityholders as described under “Description of the Securities—Redemption—Notice of Redemption.” |

| A redemption notice will be automatically rescinded and will have no force and effect, and no redemption amount will be due and payable, if either (x) the Solvency Condition is not satisfied in respect of the                            
 relevant redemption amount on the applicable redemption date, (y) a Capital Adequacy Trigger Event occurs prior to the applicable redemption date (in which case, an Automatic Conversion will occur as described under “Description of the 
 Securities—Automatic Conversion Upon Capital Adequacy Trigger Event”) or (z) the relevant UK resolution authority exercises its UK bail-in power prior to the applicable redemption date.                                                   |

| Capital Adequacy Trigger Event | A “Capital Adequacy Trigger Event” will occur if at any time the CET1 Ratio is less than 7.0%. Whether a Capital Adequacy Trigger Event has occurred at any time will be determined by us, the Relevant Regulator or any agent of the 
 Relevant Regulator appointed for such purpose by the Relevant Regulator.                                                                                                                                                              |

| “CET1 Capital” means, as of any date, the sum, expressed in U.S. dollars, of all amounts that constitute common equity Tier 1 capital of the HSBC Group as of such date, less any deductions from common equity                                           
 Tier 1 capital of the HSBC Group required to be made as of such date, in each case as calculated by us on a consolidated basis in accordance with the Relevant Rules applicable to us as of such date but without applying any relevant transitional      
 provisions then in effect under the Relevant Rules (unless the Relevant Rules otherwise require or permit (explicitly or without restricting) that such transitional provisions are applied for these purposes) (which calculation will be binding on the 
 trustee, the paying agent and the securityholders). For the purposes of this definition, the term “common equity Tier