Company: HBCYF
Filing Date: 2025-02-25
Form Type: 424B5
Source: 0001193125-25-034819
Chunk: 143

Company: HSBC HOLDINGS PLC
Filing Date: 2025-02-25
Form: 424B5
Chunk 143
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 Medicare contribution tax on net investment income. Furthermore, this summary does not address the tax treatment of the Securities following any exercise of the UK bail-inpower by the relevant UK resolution authority. Finally, this summary does not address the tax treatment of Conversion Shares that may be denominated in or provide for payments in a currency other than the U.S. dollar. The summary is based on the Code, administrative pronouncements, judicial decisions and final, temporary and proposed Treasury regulations, in each case as of the date hereof, changes to any of which subsequent to the date of this prospectus supplement may affect the tax consequences described herein, possibly with retroactive effect. Persons considering the purchase of Securities should consult their own tax advisers in determining the tax consequences to them of the purchase, ownership and disposition of Securities or Conversion Shares, including the application to their particular situation of the U.S. federal income tax considerations discussed below, as well as the application of U.S. state, local, foreign or other tax laws. As used in this prospectus supplement, the term “U.S. Holder” means:

| • |     | a citizen or resident of the United States; |

| • |     | a corporation (or other entity treated as a corporation for U.S. federal income tax purposes) that is organized 
 under the laws of the United States, any state thereof or the District of Columbia; or                          |

| • |     | any person otherwise subject to U.S. federal income taxation on a net income basis in respect of the Security. |

S-92

As used in this summary, the term “Non-U.S.
Holder” means a holder that is not a U.S. Holder and is not an entity or arrangement treated as a partnership for U.S. federal income tax purposes.

U.S. Tax Status of the Securities; Distributions on the Securities and the Conversion Shares

The Securities will be treated as equity of HSBC Holdings for U.S. federal income tax purposes. Interest payments with respect to the
Securities, and distributions with respect to the Conversion Shares, will be treated as dividends for U.S. federal income tax purposes to the extent of HSBC Holdings’ current or accumulated earnings and profits as determined for U.S. federal
income tax purposes, any portion of such a payment in excess of the issuer’s current and accumulated earnings and profits would be treated first as a nontaxable return of capital that would reduce your tax basis in the Securities or Conversion
Shares, as applicable, and would thereafter generally be treated