Company: HBCYF
Filing Date: 2025-02-27
Form Type: 424B5
Source: 0001193125-25-039401
Chunk: 82

Company: HSBC HOLDINGS PLC
Filing Date: 2025-02-27
Form: 424B5
Chunk 82
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2031 Floating Rate Notes Par Redemption

We may redeem the 2031 Floating Rate Notes in whole (but not in part) in our sole discretion on March 3, 2030 (the “2031 Floating Rate
Notes Par Redemption Date”) (a “2031 Floating Rate Notes Par Redemption”). The redemption price will be equal to 100% of their principal amount plus any accrued and unpaid interest to (but excluding) the 2031 Floating Rate
Notes Par Redemption Date.

“Par Redemption” means any of the 2029 Fixed/Floating Rate Notes Par Redemption, the 2031
Fixed/Floating Rate Notes Par Redemption, the 2036 Fixed/Floating Rate Notes Par Redemption, the 2029 Floating Rate Notes Par Redemption or the 2031 Floating Rate Notes Par Redemption, as applicable.

“Par Redemption Date” means any of the 2029 Fixed/Floating Rate Notes Par Redemption Date, the 2031 Fixed/Floating Rate Notes Par
Redemption Date, the 2036 Fixed/Floating Rate Notes Par Redemption Date, the 2029 Floating Rate Notes Par Redemption Date or the 2031 Floating Rate Notes Par Redemption Date, as applicable.

Redemption upon Loss Absorption Disqualification Event

Following the occurrence of a Loss Absorption Disqualification Event, we may, in our sole discretion, redeem such Notes in whole, but not in
part (such option to redeem being referred to herein as a “Loss Absorption Disqualification Event Redemption Option”), at a redemption price equal to 100% of their principal amount, plus any accrued and unpaid interest to (but excluding)
the applicable redemption date.

S-55

A “Loss Absorption Disqualification Event” shall be deemed to have occurred if the Notes become fully or partially ineligible to meet our and/or the HSBC Group’s minimum requirements for (A) eligible liabilities and/or (B) loss absorbing capacity instruments, in each case as determined in accordance with and pursuant to the relevant Loss Absorption Regulations applicable to us and/or the HSBC Group, as a result of any:

| (a) | Loss Absorption Regulation becoming effective after the Issue Date; or |

| (b) | amendment to, or change in, any Loss Absorption Regulation, or any change in the application or official          
 interpretation of any Loss Absorption Regulation, in any such case becoming effective on or after the Issue Date, |

provided, however, that a Loss Absorption Disqualification Event shall not occur where the exclusion of the Notes from the relevant