Company: HBCYF
Filing Date: 2025-06-02
Form Type: 424B5
Source: 0001193125-25-132352
Chunk: 23

Company: HSBC HOLDINGS PLC
Filing Date: 2025-06-02
Form: 424B5
Chunk 23
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 our Ordinary Shares, our other securities or our other obligations (including any guarantee, support agreement or similar undertaking) 
 that rank, or are expressed to rank, junior to the Securities in our winding-up or administration as described under “Description of the Securities—Subordination” and/or (ii) any of                       
 our capital instruments that qualify as common equity Tier 1 instruments under the Relevant Rules.                                                                                                          |

| “Maximum Distributable Amount” means any applicable maximum distributable amount relating to us required to be calculated in accordance with (i) Rule 4.3(2) of Chapter 4; or (ii) any analogous 
 restrictions arising in respect of failure to meet capital adequacy, loss absorbing capacity, leverage or buffer requirements under the Relevant Rules.                                          |

| “Ordinary Share” means a fully paid ordinary share in the capital of HSBC Holdings, currently with a nominal value of U.S.$0.50 each. |

| “Parity Obligations” means, (i) the most senior ranking class or classes of preference shares in our capital from time to time and any other of our securities or obligations ranking, or expressed to rank, 
 pari passu with the Securities and/or such senior preference shares in our winding-up or administration as described under “Description of the Securities— Subordination,” and/or                            
 (ii) any guarantee, support agreement or similar undertaking entered into by us which ranks or is expressed to rank pari passu with the Securities and/or such senior preference shares in our               
 winding-up or administration as described under “Description of the Securities—Subordination.”                                                                                                               |

| “Relevant Distributions” means, in relation to any interest payment date, the sum of (i) all distributions or                                                                                                                                 
 interest payments made or declared by us since the end of the last financial year and prior to such interest payment date on or in respect of any Parity Obligations, the Securities and any Junior Obligations and (ii) all distributions or 
 interest payments payable by us (and not cancelled or deemed to have been cancelled) on such interest payment date on or in respect of any Parity Obligations, the Securities and any Junior Obligations, in the                              |

S-13

| case of each of (i) and (ii), excluding any payments already accounted for in determining the Distributable Items. |

| “Solvency Condition” means the condition that, other than in the event of our winding-up or administration, as described in “Description of the