Company: HBCYF
Filing Date: 2025-09-04
Form Type: 424B5
Source: 0001193125-25-195127
Chunk: 143

Company: HSBC HOLDINGS PLC
Filing Date: 2025-09-04
Form: 424B5
Chunk 143
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 not to have occurred; providedthat no such waiver will extend to any subsequent or other contingent capital event of default or default or impair any right consequent thereon. No Right of Set-Offby Holders Subject to applicable law and unless the applicable prospectus supplement provides otherwise, holders of contingent capital securities, by their acceptance thereof, and the trustee in respect of any claims of such holders to payment of any principal, premium or interest in respect of the contingent capital securities, will be deemed to have waived any right of set-offor counterclaim that they might otherwise have. Notwithstanding the preceding sentence, if any of the rights and claims of any holder of contingent capital securities are discharged by set-off,such holder will immediately pay an amount equal to the amount of such discharge to us or, if applicable, the liquidator or trustee or receiver in our bankruptcy and, until such time as payment is made, will hold a sum equal to such amount in trust for us or, if applicable, the liquidator or trustee or receiver in our bankruptcy. Accordingly, such discharge will be deemed not to have taken place. The waiver of set-offprovisions will be governed by, and construed in accordance with, the laws of England and Wales. Limitation on Suits No holder of contingent capital securities will be entitled to proceed directly against us, except as described below. Subject to any further limitations provided in the relevant prospectus supplement, before a holder of the contingent capital securities may bypass the trustee and bring its own lawsuit or other formal legal action or take other steps to enforce its rights or protect its interests relating to the contingent capital securities, the following must occur:

| • |     | The holder must give the trustee written notice that a contingent capital event of default has occurred and 
 remains uncured.                                                                                            |

| • |     | The holders of not less than 25% in outstanding principal amount of the contingent capital securities of the                                                                                                                                   
 relevant series must make a written request that the trustee take action because of the contingent capital event of default, and the holder must offer indemnity satisfactory to the trustee in its sole discretion against the cost and other 
 liabilities of taking that action.                                                                                                                                                                                                             |

| • |     | The trustee must not have taken action for 60 days after receipt of the above notice and offer of security or                                                                                                 
 indemnity, and the trustee must not have received an inconsistent direction from the majority in principal amount of all outstanding contingent capital securities of the relevant series during that period. |

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Notwithstanding any other provision