Company: HBCYF
Filing Date: 2025-02-25
Form Type: 424B5
Source: 0001193125-25-034819
Chunk: 110

Company: HSBC HOLDINGS PLC
Filing Date: 2025-02-25
Form: 424B5
Chunk 110
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 of a dividend (whether or not a Cash Dividend equivalent or amount is announced or would otherwise be payable to our ordinary shareholders, whether at their election or otherwise), each Price will be adjusted by multiplying the relevant 
 Price in effect immediately prior to such issue by the following fraction:                                                                                                                                                                           |

A B S-70

where:

| A | is the aggregate number of our ordinary shares in issue immediately before such issue; |

| and |

| B | is the aggregate number of our ordinary shares in issue immediately after such issue. |

Such adjustment will become effective on the date of issue of such ordinary shares.

| (c) | If and whenever we issue our ordinary shares to our shareholders as a class by way of rights, or we or any                                                                                                                                                
 member of the HSBC Group or (at the direction or request or pursuant to arrangements with us or any member of the HSBC Group) any other company, person or entity issues or grants to our ordinary shareholders as a class by way of rights, any options, 
 warrants or other rights to subscribe for or purchase our ordinary shares, or any securities which by their terms of issue carry (directly or indirectly) rights of conversion into, or exchange or subscription for, any of our ordinary shares (or      
 grants any such rights in respect of existing securities so issued), in each case at a price per ordinary share which is less than 95% of the Current Market Price on the Effective Date, each Price will be adjusted by multiplying the relevant Price   
 in effect immediately prior to the Effective Date by the following fraction:                                                                                                                                                                              |

A+B A+C where:

| A | is the aggregate number of our ordinary shares in issue on the Effective Date; |

| B | is the number of our ordinary shares which the aggregate consideration (if any) receivable for our ordinary                                                                                                                                               
 shares issued by way of rights, or for the securities issued by way of rights, or for the options or warrants or other rights issued by way of rights and for the total number of our ordinary shares deliverable on the exercise thereof, would purchase 
 at such Current Market Price on the Effective Date; and                                                                                                                                                                                                   |

| C | is the number of our ordinary shares to be issued or, as the case may be, the maximum number of our ordinary                                                                                                                                            
 shares which may be issued upon exercise of such options, warrants or rights calculated as of the date of issue of such options, warrants or rights or upon conversion or exchange or exercise of rights of subscription or purchase in respect thereof 
 at the initial