Company: HBCYF
Filing Date: 2025-11-03
Form Type: 424B5
Source: 0001193125-25-261738
Chunk: 31

Company: HSBC HOLDINGS PLC
Filing Date: 2025-11-03
Form: 424B5
Chunk 31
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 exercise of any UK bail-in power by the relevant UK resolution authority if and to the                        |

S-21

| extent such amounts have been reduced, converted, cancelled, amended or altered as a result of such exercise. For these purposes, “Amounts Due” are the principal amount of, and any                       
 accrued but unpaid interest, including any Additional Amounts (as defined under “Description of Debt Securities—Additional Amounts—Senior Debt Securities” in the accompanying prospectus), on the Notes.  
 References to such amounts will include amounts that have become due and payable, but which have not been paid, prior to the exercise of any UK bail-in power by the relevant UK resolution authority. See 
 “Description of the Notes—Agreement with Respect to the Exercise of UK Bail-in Power.”                                                                                                                     |

| Moreover, each noteholder (which, for these purposes, includes each beneficial owner) will consent to the exercise of any UK bail-in power as it may be imposed without any prior 
 notice by the relevant UK resolution authority of its decision to exercise such power with respect to the Notes.                                                                  |

| Ranking | The Notes will constitute our direct, unsecured obligations and rank pari passu with our other senior indebtedness, and the Notes will rank equally and ratably without any preference among themselves. Senior indebtedness will not include 
 any indebtedness that is expressed to be subordinated to or pari passu with subordinated debt securities. See “Description of Debt Securities—Senior Debt Securities—Defaults and Events of Default” in the                                   
 accompanying prospectus.                                                                                                                                                                                                                      |

| Form of Notes | The Notes will be issued in the form of one or more global securities registered in the name of the nominee for, and deposited with, The Depository Trust Company (“DTC”). See “Description of Debt Securities—Form, 
 Settlement and Clearance” in the accompanying prospectus.                                                                                                                                                            |

| Trading through DTC, Clearstream Luxembourg and Euroclear | Initial settlement for the Notes will be made in immediately available funds. Secondary market trading between DTC participants will occur in the ordinary way in accordance with DTC’s rules and will be settled in immediately available 
 funds using DTC’s Same-Day Funds Settlement System. Secondary market trading between Clearstream Banking S.A. (“Clearstream Luxembourg”) customers and/or Euroclear Bank SA/NV                                                             
 (“Euroclear”) participants will occur in the ordinary way in accordance with the applicable rules and operating procedures of Clearstream Luxembourg and Euroclear and will be settled using the procedures