Company: HBCYF
Filing Date: 2025-02-25
Form Type: 424B5
Source: 0001193125-25-034819
Chunk: 195

Company: HSBC HOLDINGS PLC
Filing Date: 2025-02-25
Form: 424B5
Chunk 195
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 waivers of certain covenants except to increase the relevant percentages or to provide that certain other provisions of the relevant indenture cannot be modified or waived without the consent of all holders of affected debt 
 securities;                                                                                                                                                                                                                                       |

| • |     | change the terms and conditions of the preference shares or conversion securities into which undated subordinated 
 debt securities may be convertible;                                                                               |

| • |     | change any of our obligations to maintain an office or agency in the places and for the purposes required by the 
 relevant indenture;                                                                                              |

| • |     | change in any manner adverse to the interests of the holders of the debt securities of such series the 
 subordination provisions of any series of debt securities; or                                          |

| • |     | modify or affect in any manner adverse to the interests of the holders of the debt securities of such series the                                                                                
 terms and conditions of our obligations regarding the due and punctual payment of the principal, premium, if any, interest, any missed payment or the rate of interest on any of the foregoing. |

The holders of not less than a majority in principal amount (or, in the case of any principal indexed debt securities, face amount) of the outstanding debt securities of a series may, on behalf of all holders of debt securities of that series, waive, insofar as that series is concerned, our compliance with certain restrictive provisions of the indenture before the time for such compliance. In addition, material variations in the terms and conditions of debt securities of any series, including modifications relating to subordination, redemption and events of default may require the consent of the PRA. Senior Debt Securities—Defaults and Events of Default The senior debt securities will be our direct, unsecured obligations and rank pari passuwith our other senior unsecured indebtedness, and the senior debt securities of a series 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 passuwith the subordinated debt securities. The maturity of the senior debt securities will be subject to acceleration only as specified under “ —Defaults and Events of Default” below. Defaults and Events of Default.Unless otherwise provided in a prospectus supplement with respect to any series of senior debt securities, it will be an event of default with respect to senior debt securities of a series if:

| (a) | an order is made by an English court which is not successfully appealed within 30 days after the date such                                            
 order was made