Company: HBCYF
Filing Date: 2025-06-02
Form Type: 424B5
Source: 0001193125-25-132352
Chunk: 96

Company: HSBC HOLDINGS PLC
Filing Date: 2025-06-02
Form: 424B5
Chunk 96
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 decision of any court or tribunal that becomes effective on or after the Issue Date:

| (a) | on a subsequent date for the payment of interest on the Securities we would be required to pay any Additional                  
 Amounts (as described under “Description of Contingent Capital Securities—Additional Amounts” in the accompanying prospectus); |

| (b) | if we were to seek to redeem the Securities on a subsequent date (for which purpose no consideration will be                                                                                                                     
 given as to whether or not we would otherwise be entitled to redeem the Securities), we would be required to pay any Additional Amounts (as described under “Description of Contingent Capital Securities—Additional Amounts” in 
 the accompanying prospectus) (notwithstanding our having made such endeavors as we consider reasonable);                                                                                                                         |

| (c) | on a subsequent date for the payment of interest on the Securities, interest payments (or our funding costs as                        
 recognized in our accounts) under, or with respect to, the Securities are no longer fully deductible for UK corporation tax purposes; |

| (d) | the Securities would no longer be treated as loan relationships for UK tax purposes; |

| (e) | would, as a result of the Securities being in issue, result in our not being able to have losses or deductions                                                                                                                                          
 set against the profits or gains, or profits or gains offset by the losses or deductions, of companies with which we are or would otherwise be so grouped for applicable UK tax purposes (whether under the group relief system current as of the Issue 
 Date or any similar system or systems having like effect as may from time to time exist);                                                                                                                                                               |

| (f) | a future write-down of the principal amount of the Securities or                                                                                                                                                                                 
 conversion of the Securities into our Ordinary Shares would result in a UK tax liability, or the receipt of income or profit which would be subject to UK tax, which would not otherwise have been the case as of the Issue Date of the relevant 
 Securities; or                                                                                                                                                                                                                                   |

| (g) | the Securities or any part thereof become treated as a derivative or an embedded derivative for UK tax 
 purposes.                                                                                              |

Subject only to our obligation to use such endeavors as provided in paragraph (b), it will be sufficient for us to deliver to the trustee an officer’s certificate stating that a Tax Event has occurred and is continuing and setting out the details thereof, as well as any opinion or certificate of an independent legal adviser on which such officer’s certificate is based. For these purposes