Company: HBCYF
Filing Date: 2025-06-02
Form Type: 424B5
Source: 0001193125-25-132352
Chunk: 38

Company: HSBC HOLDINGS PLC
Filing Date: 2025-06-02
Form: 424B5
Chunk 38
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 interest payment
(or the portion thereof not paid) will not be due and payable. Moreover, notwithstanding such cancellation or that the Securities rank senior to our Ordinary Shares, we may use funds that could have been applied to make such cancelled interest
payments to pay dividends on our ordinary or preference shares or to meet our other obligations as they become due, including on any Parity Obligations (such as any other series of contingent convertible securities we may issue under the Indenture).
It is the current intention of our board of directors to take into account the relative ranking in our capital structure of our Ordinary Shares and outstanding additional Tier 1 securities whenever exercising its discretion to declare dividends on
the former or to cancel

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interest on the latter. However, our board of directors may depart from this policy at any time in its sole discretion. In addition, we will not make an interest payment on any interest payment date, and such interest payment will therefore be deemed to have been cancelled (and thus will not be due and payable on such interest payment date), if:

| • |     | the amount of Relevant Distributions exceeds the amount of Distributable Items as of such interest payment date; |

| • |     | the aggregate of (x) the interest amount payable in respect of the Securities and (y) the amounts of                                                                                                                                         
 any distributions of the kind referred to in Rule 4.3(2) of Chapter 4 (or any succeeding provision amending or replacing such rule) exceeds the Maximum Distributable Amount (if any) applicable to us as of such interest payment date (see 
 “—Risks Relating to the Securities—Existing or new capital or leverage requirements may result in restrictions on making interest payments in respect of the Securities, in which case interest payments will be cancelled,                  
 which you may not be able to anticipate”);                                                                                                                                                                                                   |

| • |     | the Solvency Condition (as described under “Description of the Securities—Subordination”) 
 is not satisfied in respect of such interest payment; or                                  |

| • |     | the Relevant Regulator orders us to cancel (in whole or in part) the interest otherwise payable on such interest 
 payment date.                                                                                                    |

Interest will not be due and will not accumulate or be payable at any time after cancellation or deemed cancellation, and you will have no rights thereto or to receive any additional interest or compensation as a result of such cancellation or deemed cancellation. Furthermore, no cancellation or deemed cancellation of interest in accordance with the terms of