Company: HBCYF
Filing Date: 2025-06-02
Form Type: 424B5
Source: 0001193125-25-132352
Chunk: 101

Company: HSBC HOLDINGS PLC
Filing Date: 2025-06-02
Form: 424B5
Chunk 101
---
 to the Conversion Shares Depository in accordance with the terms of the Securities, the securityholders’ only right against us
will be to claim to have such Conversion Shares issued to the Conversion Shares Depository. If we have been unable to appoint a Conversion Shares Depository, we will effect, by means we deem reasonable under the circumstances (including, without
limitation, issuance of the Conversion Shares to another nominee or to the securityholders directly), the issuance and/or delivery of the Conversion Shares or Conversion Shares Offer Consideration, as applicable, to the securityholders, and such
issuance will irrevocably and automatically release all of the our obligations under the Securities as if the Conversion Shares had been issued to the Conversion Shares Depository.

Following the issuance of the Conversion Shares to the Conversion Shares Depository on behalf of the securityholders (or to the relevant
recipient in accordance with the terms of the Securities) on the Conversion Date, the Securities will remain in existence until the applicable Cancellation Date for the sole purpose of evidencing the securityholders’ right to receive Conversion
Shares or Conversion Shares Offer Consideration, as applicable, from the Conversion Shares Depository (or the relevant recipient in accordance with the terms of the Securities).

The Securities will not be convertible into Conversion Shares at the option of the securityholders at any time.

Conversion Shares

“Conversion Shares” means our Ordinary Shares to be issued to the Conversion Shares Depository on behalf of the securityholders (or
to the relevant recipient in accordance with the terms of the Securities) following an Automatic Conversion.

The number of Conversion
Shares to be issued to the Conversion Shares Depository on behalf of the securityholders (or to the relevant recipient in accordance with the terms of the Securities) on the Conversion Date will equal the quotient obtained by dividing the
(i) aggregate principal amount of the Securities then outstanding immediately prior to the Automatic Conversion on the Conversion Date (the “Outstanding Amount”) by (ii) the Conversion Price, rounded down, if necessary, to the
nearest whole number of Conversion Shares. The Conversion Price is fixed initially at $3.6437 per Conversion Share and is subject to certain anti-dilution adjustments, as described under
“—Anti-dilution—Adjustmentof Conversion Price and Conversion Shares Offer Price” (the “Conversion Price”). On the Issue Date, the Conversion Price will be equal to
the Conversion Shares Offer Price (based on an exchange rate of £1.00 = $1.3495). The number of Conversion Shares to