Company: HBCYF
Filing Date: 2025-05-12
Form Type: 424B5
Source: 0001193125-25-117014
Chunk: 80

Company: HSBC HOLDINGS PLC
Filing Date: 2025-05-12
Form: 424B5
Chunk 80
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 senior indebtedness, and the Notes will
rank equally and ratably without any preference among themselves. Senior indebtedness will not include any indebtedness that is expressed to be subordinated to or pari passu with subordinated debt securities.

Paying Agent

Payments of principal of
and interest on the Notes will be made in U.S. dollars and such payments on Notes represented by a global security will be made through one or more paying agents to DTC or its nominee. Initially, the paying agent will be HSBC Bank USA, National
Association. We may change the paying agent without prior notice to the noteholders, and in such an event we may act as paying agent. Payments of principal of, and interest on, the Notes represented by a global security will be made by wire transfer
of immediately available funds.

Calculation Agent

The calculation agent is HSBC Bank USA, National Association, or its successor appointed by us, pursuant to a calculation agent agreement
expected to be entered into on the Issue Date.

Subsequent Holders’ Agreement

Any noteholder (which for these purposes, includes each beneficial owner of the Notes) that acquires the Notes in the secondary market and any
successors, assigns, heirs, executors, administrators, trustees in bankruptcy and legal representatives of any noteholder or beneficial owner of the Notes will be deemed to acknowledge, accept, agree to be bound by and consent to the same provisions
specified herein to the same extent as the noteholders or beneficial owners of the Notes that acquire the Notes upon their initial issuance, including, without limitation, with respect to the acknowledgement and agreement to be bound by and consent
to the terms of the Notes related to the UK bail-in power, the Benchmark and the limited remedies available under the Indenture and the Notes for a non-payment of
principal and/or interest on the Notes.

Governing Law

The Indenture and the Notes will be governed by, and construed in accordance with, the laws of the State of New York, except that the waiver of
set-off provisions of the Indenture and the Notes will be governed by, and

S-54

construed in accordance with, the laws of England and Wales. Any legal proceedings arising out of, or based upon, the Indenture or the Notes may be instituted in any state or federal court in the
City of New York, United States.

Listing

Application will be made for the Notes to be admitted to listing on the New York Stock