Company: HBCYF
Filing Date: 2025-06-02
Form Type: 424B5
Source: 0001193125-25-132352
Chunk: 136

Company: HSBC HOLDINGS PLC
Filing Date: 2025-06-02
Form: 424B5
Chunk 136
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—Automatic Conversion Upon Capital Adequacy Trigger Event—Conversion Shares Offer.” “Conversion Shares Offer Agent” has the meaning given to such term under “—Automatic Conversion Upon Capital Adequacy Trigger Event—Conversion Shares Offer.” “Conversion Shares Offer Consideration” has the meaning given to such term under “—Automatic Conversion Upon Capital Adequacy Trigger Event—Conversion Shares Offer.” “Conversion Shares Offer Notice” has the meaning given to such term under “—Automatic Conversion Upon Capital Adequacy Trigger Event—Procedure—Automatic Conversion Procedure.” “Conversion Shares Offer Period” means the period during which the Conversion Shares Offer may occur, which period will end no later than 40 business days after the delivery of the Conversion Shares Offer Notice. “Conversion Shares Offer Price” has the meaning given to such term under “—Automatic Conversion Upon Capital Adequacy Trigger Event—Conversion Shares Offer.” “CREST” means the relevant system, as defined in the CREST Regulations, or any successor clearing system. “CREST Regulations” means the Uncertificated Securities Regulations 2001 (SI 2001 No. 01/378), as amended. “Current Market Price” means, in respect of one of our Ordinary Shares at a particular date, the arithmetic average of the Volume Weighted Average Price per Ordinary Share for the five consecutive Exchange Business Days ending on the Exchange Business Day immediately preceding such date (the “Relevant Period”), provided that:

| (i) | if at any time during the Relevant Period the Volume Weighted Average Price has been based on a price ex-dividend (or ex-any other entitlement) and during some other part of that period the |

S-84

| Volume Weighted Average Price has been based on a price cum-dividend (or cum-any other entitlement), then: |

| (1) | if our Ordinary Shares to be issued do not rank for the dividend (or entitlement) in question, the Volume                                                                                                                                            
 Weighted Average Price on the dates on which our Ordinary Shares will have been quoted cum-dividend (or cum-any other entitlement) will for the purpose of this                                                                                      
 definition be deemed to be the amount thereof reduced by an amount equal to the Fair Market Value of that dividend (or entitlement) per Ordinary Share as of the date of first public announcement relating to such dividend or entitlement and, for 
 these purposes, the amount or value will be determined on a gross basis disregarding any withholding or deduction required to be made on account of tax and disregarding any associated tax credit; or