Company: HBCYF
Filing Date: 2025-02-27
Form Type: 424B5
Source: 0001193125-25-039401
Chunk: 154

Company: HSBC HOLDINGS PLC
Filing Date: 2025-02-27
Form: 424B5
Chunk 154
---
 public accountants expressed in a written certification thereof delivered to the trustee to pay all the principal of  
 (and premium, if any) and                                                                                                                                                                                                                       |

27

| interest on, the dated subordinated debt securities or senior debt securities of such series, as applicable, in accordance with the terms of such dated subordinated debt securities or senior debt 
 securities of such series, as applicable;                                                                                                                                                           |

| • |     | no event of default or default or no event (including such deposit) which, after notice or lapse of time or both,                                                                                                               
 would become an event of default or a default with respect to the dated subordinated debt securities or senior debt securities of such series, as applicable, will have occurred and be continuing on the date of such deposit; |

| • |     | we deliver to the trustee an officer’s certificate stating that all conditions precedent relating to such 
 covenant defeasance have been complied with; and                                                          |

| • |     | certain other conditions are complied with. |

Any covenant defeasance will be subject to the consent of the PRA, if required. Conversion The prospectus supplement relating to a particular series of debt securities may provide for the exchange or conversion of such debt securities. Except as otherwise specified in the prospectus supplement relating to a particular series of undated subordinated debt securities, we will have the option to convert, in whole but not in part, the undated subordinated debt securities of any series into preference shares on any payment date. The related prospectus supplement will describe the other terms and conditions of the conversion provisions. Trustee’s Duties Except during the continuance of an event of default or a default, the trustee will only be liable for performing those duties specifically set forth in the relevant indenture. In the event an event of default or default has occurred and is continuing, the trustee will exercise such of the rights and powers vested in it by the relevant indenture and use the same degree of care and skill in its exercise as a prudent person would exercise or use under the circumstances in the conduct of such person’s own affairs. If an event of default or default occurs and is continuing with respect to the debt securities of a series, the trustee will be under no obligation to exercise any of the rights or powers vested in it by the relevant indenture at the request or direction of any of the holders of debt securities of such series, unless such holders have offered to the trustee reasonable security or indemnity satisfactory to the trustee against the costs, expenses and liabilities that