Company: HBCYF
Filing Date: 2025-09-04
Form Type: 424B5
Source: 0001193125-25-195127
Chunk: 27

Company: HSBC HOLDINGS PLC
Filing Date: 2025-09-04
Form: 424B5
Chunk 27
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 Purchase, but not on the completion of this offering. This offering is not conditioned on the results of the Tender Offers. |

We will, in connection with the allocation of the Notes, consider, among other factors, whether or not the relevant investor seeking an allocation of the Notes has, prior to such allocation, validly tendered or given a firm intention to us or the dealer manager for the Tender Offers that they intend to tender their Tender Notes pursuant to the Tender Offers and, if so, the aggregate principal amount of Tender Notes tendered or intended to be tendered by such investor. However, we are not obliged to allocate the Notes to a holder who has validly tendered or indicated a firm intention to tender the Tender Notes pursuant to the Tender Offers and, if Notes are allocated, the principal amount thereof may be less or more than the principal amount of Tender Notes tendered by such holder and accepted by us pursuant to the Tender Offers. S-20

RISK FACTORS

An investment in the Notes involves significant risk. Accordingly, you should consider carefully all of the information set forth in, or incorporated by reference into, this prospectus supplement and the accompanying prospectus, including the section entitled “Risk Factors”, before you decide to invest in the Notes. Terms which are defined in “Description of the Notes” included in this prospectus supplement beginning on page S-40have the same meaning when used in this section.

Risks Relating to HSBC’s Business

For information on risks relating to HSBC’s business, you should read the risks described in the 2024 Form 20-F, including the section entitled “Risk factors” on pages 154 through 166, Note 28 (Provisions) and Note 35 (Legal proceedings and regulatory matters) to the
consolidated financial statements included therein on pages 437 and 448 through 450, respectively, and the risks described in the 2025 Interim Report, in the sections entitled “Risk Overview” and “Risk” on pages 16 through 17 and pages 42 through 74, respectively, Note 11 (Provisions) and Note 13 (Legal proceedings and regulatory matters)
to the interim condensed consolidated financial statements included therein on page 95 and on pages 96 through 98, respectively, which are incorporated by reference in this prospectus supplement, and/or similar disclosure in subsequent filings
incorporated by reference in this prospectus supplement.

Risks Relating to the Notes

Under the terms of the Notes, you