Company: HBCYF
Filing Date: 2025-02-25
Form Type: 424B5
Source: 0001193125-25-034819
Chunk: 50

Company: HSBC HOLDINGS PLC
Filing Date: 2025-02-25
Form: 424B5
Chunk 50
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 price during the period
shortly before any Optional Redemption Date. Moreover, if we redeem the Securities in any of the circumstances mentioned above, you may not be able to reinvest the redemption proceeds in securities offering a comparable yield.

S-33

In addition, any early redemption of any of the Securities may be subject to conditions
imposed by the Relevant Regulator, regardless of whether such redemption would be favorable to you (see “Description of the Securities—Redemption—Redemption Conditions”). As of the date of this prospectus supplement, in
particular, Article 78(1) of UK CRR provides that the Relevant Regulator will grant permission to reduce, call, redeem, repay or repurchase the Securities if either: (i) before or simultaneously with such reduction, call, redemption, repayment
or repurchase of the Securities we replace the Securities being reduced, called, redeemed, repaid or repurchased with our own funds instruments of equal or higher quality at terms that are sustainable for our income capacity; or (ii) we have
demonstrated to the satisfaction of the Relevant Regulator that our own funds and eligible liabilities would, following such actions, exceed the requirements set out in UK CRR, Directive 2013/36/EU UK law (as defined in Article 4A of UK CRR) and in
the UK legislation that implemented the BRRD, in each case, by a margin that the Relevant Regulator may consider necessary.

The Securities may be subject to an Automatic Conversion and upon the occurrence of such an event you could lose all or part of the value of your investment in the Securities due to the deterioration in the realizable value of any Conversion Shares.

A “Capital Adequacy Trigger Event” will occur if at any time the non-transitional CET1 Ratio
is less than 7.0%, as determined by us, the Relevant Regulator or any agent of the Relevant Regulator appointed for such purpose by the Relevant Regulator. See “—Risks Relating to the Securities—The circumstances surrounding or triggering an Automatic Conversion are unpredictable.”

Upon the occurrence of a Capital Adequacy Trigger Event, an Automatic
Conversion will occur on the Conversion Date. Following an Automatic Conversion, you will receive only (i) the Conversion Shares (based on the Conversion Price) or (ii) if we elect, in our sole and absolute discretion, that a Conversion
Shares Offer be made, the Conversion Shares Offer Consideration, which will comprise Conversion Shares (based on the