Company: HBCYF
Filing Date: 2025-11-03
Form Type: 424B5
Source: 0001193125-25-261738
Chunk: 22

Company: HSBC HOLDINGS PLC
Filing Date: 2025-11-03
Form: 424B5
Chunk 22
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 a “Floating Rate Notes Interest Period”); 
 provided that the first Floating Rate Notes Interest Period will begin on (and include) the Issue Date and will end on (but exclude) the first Floating Rate Notes Interest Payment Date.                                        |

S-13

| The definition and the terms of the Floating Rate Notes Par Redemption are set forth below under “Description of the Notes—Redemption” and the 
 sub-headings thereunder. See “Risk Factors—Risks Relating to the Notes—We may redeem the Notes at our option in certain situations.”           |

Terms Applicable to each Series of Notes:

| Interest Determination Dates | The third business day preceding the applicable Interest Payment Date (each, an “Interest Determination Date”). |

| Redemption upon Loss Absorption Disqualification Event | Following the occurrence of a Loss Absorption Disqualification Event, we may, on the terms and subject to the provisions set forth under “Description of the Notes—Redemption,” in our sole discretion, redeem the 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.                                                                                                                                                                                           |

| 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. See “Risk Factors—Risks Relating to the Notes—We may redeem the Notes at our option in certain  
 situations.” 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. See “Description of Debt Securities—Redemption” in 
 the accompanying prospectus.                                                                                                                                                                                         |

| Redemption by Noteholders | The Notes are not redeemable at the option of the noteholders at any time. |

| Redemption or Purchase Conditions | Any redemption or purchase of the Notes is subject, where applicable, to the regulatory consent as described under “Description of the Notes—Redemption” and “Description of the Notes—Purchases.” 
 Any redemption of the Notes is subject to our giving prior notice to the noteholders as described under “Description of the Notes—Redemption.”                                                     |

| Calculation of the Benchmark | The “Benchmark” means, initially, Compounded Daily SOFR; provided that if a Benchmark Transition Event and related Benchmark Replacement Date have occurred with respect to