Company: HBCYF
Filing Date: 2025-06-02
Form Type: 424B5
Source: 0001193125-25-132352
Chunk: 56

Company: HSBC HOLDINGS PLC
Filing Date: 2025-06-02
Form: 424B5
Chunk 56
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 Relevant Regulator. Although we currently publicly report the CET1 Ratio only as of the
last day of each of our financial quarters, the PRA, as part of its supervisory activity, may instruct us to calculate such ratio as of any date, including if we are subject to recovery and resolution actions by the relevant UK resolution authority.
Moreover, we might otherwise determine to calculate such ratio in our own discretion. Accordingly, a Capital Adequacy Trigger Event could occur on any date, which could cause you to lose all or part of the value of your investment in the Securities.

Separately, changes in the CET1 Ratio may be caused by changes in the amount of CET1 Capital and/or Risk Weighted Assets (each of which
will be calculated by us and will be binding on the trustee, the paying agent and you). Accordingly, the CET1 Ratio could be affected by one or more factors, including changes to our business and our future earnings, dividend payments, regulatory
changes (including changes to definitions, interpretations and calculations of regulatory capital ratios and their components, including CET1 Capital and Risk Weighted Assets, as described further below and any transitional provisions that may apply
to such calculations in the future pursuant to the Relevant Rules, and the Relevant Regulator may or may not require us to disapply such transitional provisions from the underlying calculation of the CET1 Ratio for the purposes of the Securities),
revisions to models used by us to calculate our capital requirements (or revocation of, or amendments to, the regulatory permissions for using such models), actions that we are required to take at the discretion of the Relevant Regulator, accounting
rule changes (as described further below), tax law changes, the HSBC Group’s ability to manage Risk Weighted Assets in both its ongoing businesses and those it may seek to exit and foreign currency movements (due to changes in foreign exchange
rates resulting in changes to the U.S. dollar equivalent value of foreign currency denominated capital resources and Risk Weighted Assets).

The actual impact of the Relevant Rules on UK capital ratios is also subject to ongoing changes, including changes to UK CRR to implement the
revised Basel III standards, or changes to the way in which the PRA interprets and applies these requirements to UK banks (including with respect to individual model approvals granted by the PRA), as described further below. See “—Risks Relating to the Securities—Other changes in law may adversely affect your rights as a securityholder.”

The PRA has
published several supervisory statements and