Company: HBCYF
Filing Date: 2025-05-12
Form Type: 424B5
Source: 0001193125-25-117014
Chunk: 37

Company: HSBC HOLDINGS PLC
Filing Date: 2025-05-12
Form: 424B5
Chunk 37
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 UK bail-inpower or other resolution tools under the Banking Act or future legislative or regulatory proposals are uncertain, which may affect the value of your Notes.

There remains significant uncertainty regarding the ultimate nature and scope of the resolution powers under the Banking Act (and such
significant uncertainty may exist with respect to any other resolution powers or tools

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enacted under future legislative or regulatory proposals), as well as the manner in which such powers would affect us and our securities (including the Notes) if such powers were exercised.

For example, although the exercise of the bail-in tool and other resolution tools under the Banking
Act are subject to certain pre-conditions thereunder, there remains uncertainty regarding the specific factors (including, but not limited to, factors outside our control or not directly related to us) which
the BoE would consider in deciding whether to exercise such powers with respect to us or our securities (including the Notes). In particular, because the Banking Act allows for the BoE to exercise its discretion in choosing which resolution tool or
tools to apply, it will be difficult to predict whether the exercise of the BoE’s resolution powers with respect to any of our securities will result in a principal write-off or conversion to equity. You
may not be able to refer to publicly available criteria in order to anticipate a potential exercise of any such resolution powers and consequently its potential effect on us or the Notes.

Accordingly, it is not yet possible to assess the full impact of the exercise of the UK bail-in power
pursuant to the Banking Act or otherwise on us, and there can be no assurance that the taking of any actions contemplated therein would not adversely affect your rights, the price or value of your investment in the Notes and/or our ability to
satisfy our obligations under the Notes.

Your remedies under the Notes are limited.

The remedies under the Notes are more limited than those that may be available to some of our other unsubordinated creditors.

There is no right of acceleration in the case of non-payment of principal and/or interest on the Notes
or of our failure to perform any of our obligations under or in respect of the Notes. Payment of the principal amount, together with accrued and unpaid payments with respect to the outstanding Notes, may be accelerated only upon certain events of a winding-up, as described under “Description of Debt Securities—Senior Debt Securities—Defaults and Events of Default” in the accompanying prospectus, and the sole remedy against us under
the Indenture for recovery of amounts owing in respect of any