Company: HBCYF
Filing Date: 2025-09-04
Form Type: 424B5
Source: 0001193125-25-195127
Chunk: 63

Company: HSBC HOLDINGS PLC
Filing Date: 2025-09-04
Form: 424B5
Chunk 63
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) in our sole discretion on September 10, 2035 (the “Par Redemption Date”) (a “Par Redemption”). The redemption price will be equal to 100% of their principal amount plus any accrued and unpaid interest to (but excluding) the Par Redemption Date. Capital Disqualification Event Redemption Following the occurrence of a Capital Disqualification Event, we may, in our sole discretion, redeem the Notes in whole, but not in part at a redemption price equal to 100% of their principal amount, plus any accrued and unpaid interest, if any, to (but excluding) the date fixed for redemption. A “Capital Disqualification Event” means an event that shall be deemed to have occurred if we determine at any time after the Issue Date, that there is a change in the regulatory classification of the Notes that results in or will result in either their:

| (i) | exclusion in whole or in part from the regulatory capital of the HSBC Group; or |

| (ii) | reclassification in whole or in part as a form of regulatory capital of the HSBC Group that is lower than tier 
 2 capital (if any).                                                                                            |

Tax Event Redemption We may redeem the Notes in whole (but not in part) in our sole discretion upon the occurrence of certain tax events. The redemption price will be equal to 100% of their principal amount plus any accrued and unpaid interest to (but excluding) the date of redemption (a “Tax Event Redemption”). See “ Description of Debt Securities—Redemption—Optional Redemption in the Event of Change in Tax Treatment” in the accompanying prospectus. Residual Call If the outstanding aggregate principal amount of the Notes is 25% or less of the aggregate principal amount of the Notes originally issued (and, for these purposes, any additional notes issued after the Issue Date and consolidated with the Notes as part of the same series shall be deemed to have been originally issued), we may, at our option in our sole discretion, redeem the remaining outstanding Notes in whole (but not in part) at any time at a redemption price equal to 100% of the principal amount of such outstanding Notes plus any accrued and unpaid interest to (but excluding) the date of redemption (a “Residual Call”). It will be sufficient for us to deliver to the trustee an officer’s certificate stating that we are entitled to effect such redemption and setting forth a statement of facts showing that the outstanding aggregate principal amount of the Notes is 25% or less of the aggregate principal amount of the Notes originally issued