Company: HBCYF
Filing Date: 2025-11-03
Form Type: 424B5
Source: 0001193125-25-261738
Chunk: 60

Company: HSBC HOLDINGS PLC
Filing Date: 2025-11-03
Form: 424B5
Chunk 60
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,500 million 5.741% Fixed Rate/Floating Rate Subordinated Unsecured Notes due 2036 and application of the proceeds therefrom. As of September 11, 2025, the total carrying amount of subordinated liabilities in issue
decreased by US$509.476 million, reflecting the repurchase and cancellation of US$127.227 million 7.625% Subordinated Notes due 2032, US$30.061 million 7.350% Subordinated Notes due 2032, US$209.354 million 6.500% Subordinated
Notes due 2036 and US$142.834 million 6.800% Subordinated Notes due 2038.

Save as disclosed in the above notes, there has been no
material change in the issued share capital of HSBC Holdings, or its consolidated capitalization and indebtedness, since June 30, 2025.

The following exchange rate as of June 30, 2025 has been used in this section: £1.00 = US$1.36985, AUD1.00 = US$0.65480, JPY1.00 =
US$0.00693 and EUR1.00 = US$1.17360.

S-41

DESCRIPTION OF THE NOTES

The following summary description of certain material terms and provisions of the Notes supplements the description of certain terms and provisions of senior unsecured debt securities of any series described in the accompanying prospectus under the heading “Description of Debt Securities.” The terms described here, together with the relevant terms of senior unsecured debt securities contained in the accompanying prospectus, constitute a description of the material terms of the Notes. In cases of inconsistency between the terms described here and the relevant terms of the prospectus, the terms presented here will apply and replace those described in the prospectus.

The Notes will constitute senior unsecured notes issued under the indenture
dated as of August 26, 2009 (as amended and supplemented from time to time, the “Base Indenture”) among us, The Bank of New York Mellon, as trustee, and HSBC Bank USA, National Association, as paying agent, registrar and exchange
rate agent, the form of which is filed as an exhibit to our registration statement on Form F-3 (the “Registration Statement”). The Base Indenture will be supplemented and amended by a
thirty-seventh supplemental indenture, which is expected to be entered into on November 6, 202