# HSBC Holdings plc Main features of regulatory capital instruments and eligible instruments 31 December 2024 HSBC --- HSBC Holdings plc Main features of regulatory capital instruments and eligible instruments This document supplements the HSBC Holdings plc Pillar 3 Disclosures as at 31 December 2024 (the "Pillar 3 Disclosures"), available at www.hsbc.com (please follow links to 'Investors', 'Results and announcements' and 'All reporting'). This document is a disclosure document published as required by, and solely for the purpose of compliance with, Articles 437(b) and 437a(a) of The PRA Rulebook Disclosure (CRR) Part, to provide a description of the main features of the capital instruments and eligible liabilities of HSBC Holdings plc and certain subsidiaries of the HSBC Group. "HSBC Group" means HSBC Holdings plc, together with its consolidated subsidiaries. The information contained in this document has been compiled in accordance with CRR II (as defined in the Pillar 3 Disclosures), and regulatory guidance published by the UK Prudential Regulatory Authority and the Bank of England. Assumptions on the regulatory treatment of the capital instruments and eligible liabilities described herein under CRR II reflect the HSBC Group's interpretation of current rules. Following the end of the transition period following the UK's withdrawal from the EU, any reference herein to EU regulations and directives (including technical standards) should, as applicable, be read as a reference to the UK's version of such regulations and/or directives, as onshored into UK law under the European Union (Withdrawal) Act 2018 and as may be subsequently amended under UK law. Disclosure in the required format has resulted in simplification and abbreviation of the features of the capital instruments and eligible liabilities described herein. The information contained in this document is not intended to be a comprehensive description of such capital instruments and eligible liabilities. No investor or prospective investor in any such capital instruments and eligible liabilities should rely upon the description contained in this document and none of HSBC Holdings plc or any member of the HSBC Group shall be liable for any inaccuracy or misstatement contained in this document. The full terms and conditions of the capital instruments and eligible liabilities, described herein, are available via the HSBC Group website (http://www.hsbc.com/investor-relations/fixed-income-securities) or by contacting HSBC Group Investor Relations (investorrelations@hsbc.com). Information with respect to any capital instrument or eligible liability in this document should not be used for investment advice and does not constitute an offer to sell or solicitation of an offer to buy any such capital instrument or eligible liability or any advice or recommendation with respect to any such capital instrument or eligible liability. When making a decision about your investments, you should seek the advice of a professional financial adviser. --- ## Counts towards own funds and MREL requirements: CET1 | | HSBC Holdings plc | Hang Seng Bank Limited (Non-Controlling Interest portion) | HSBC Bank Malta plc (Non-Controlling Interest portion) | |---|---|---|---| | **1** | **Issuer** | HSBC Holdings plc | Hang Seng Bank Limited (Non-Controlling Interest portion) | HSBC Bank Malta plc (Non-Controlling Interest portion) | | **2** | **Unique identifier (eg CUSIP, ISIN or Bloomberg identifier for private placement)** | GB0005405286 | HK0011000095 | MT0000030107 | | **2a** | **Public or private placement** | Public | Public | Public | | **3** | **Governing law(s) of the instrument** | English law | Laws of Hong Kong | Laws of Malta | | **3a** | **Contractual recognition of write down and conversion powers of resolution authorities** | N/A | N/A | N/A | | **4** | **Regulatory treatment** | | | | | | **Current treatment taking into account, where applicable, transitional CRR rules** | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | | | **Post-transitional CRR rules** | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | | **5** | **Eligible at solo/(sub-) consolidated/ solo&(sub-)consolidated** | Consolidated | Solo and Consolidated | Solo and Consolidated | | **6** | **Instrument type (types to be specified by each jurisdiction)** | Ordinary Shares | Ordinary Shares | Ordinary Shares | | **7** | **Amount recognised in regulatory capital or eligible liabilities (Currency in million, as of most recent reporting date)** | USD 23,776m | USD 8,969m | USD 34m | | **8** | **Nominal amount of instrument** | | No par value, NCI portion of share capital - HKD 3,569m (USD 460m) | EUR 32m (USD 34m) | | **UK-9a** | **Issue price** | USD 0.500 per share | USD 0.500 per share | EUR 0.300 per share | | **UK-9b** | **Redemption price** | USD 0.500 per share | USD 0.500 per share | EUR 0.300 per share | | **10** | **Accounting classification** | Shareholders' equity | Non-controlling interest in consolidated subsidiary | Non-controlling interest in consolidated subsidiary | | **11** | **Original date of issuance** | Various | Various | Various | | **12** | **Perpetual or dated** | Perpetual | Perpetual | Perpetual | | **13** | **Original maturity date** | | | | | **14** | **Issuer call subject to prior supervisory approval** | | | | | **15** | **Optional call date, contingent call dates and redemption amount** | | | | | **16** | **Subsequent call dates, if applicable** | | | | | **Coupons/dividends** | | | | | | **17** | **Fixed or floating dividend/coupon** | | | | | **18** | **Coupon rate and any related index** | | | | | **19** | **Existence of a dividend stopper** | | | | | **UK-20a** | **Fully discretionary, partially discretionary or mandatory (in terms of timing)** | | | | | **UK-20b** | **Fully discretionary, partially discretionary or mandatory (in terms of amount)** | | | | | **21** | **Existence of step up or other incentive to redeem** | | | | | **22** | **Non-cumulative or cumulative** | Non-cumulative | Non-cumulative | Non-cumulative | | **23** | **Convertible or non-convertible** | Non-convertible | Non-convertible | Non-convertible | | **24** | **If convertible, conversion trigger(s)** | N/A | N/A | N/A | | **25** | **If convertible, fully or partially** | N/A | N/A | N/A | | **26** | **If convertible, conversion rate** | N/A | N/A | N/A | | **27** | **If convertible, mandatory or optional conversion** | N/A | N/A | N/A | | **28** | **If convertible, specify instrument type convertible into** | N/A | N/A | N/A | | **29** | **If convertible, specify issuer of instrument it converts into** | N/A | N/A | N/A | | **30** | **Write-down features** | N/A | N/A | N/A | | **31** | **If write-down, write-down trigger(s)** | N/A | N/A | N/A | | **32** | **If write-down, full or partial** | N/A | N/A | N/A | | **33** | **If write-down, permanent or temporary** | N/A | N/A | N/A | | **34** | **If temporary write-down, description of write-up mechanism** | N/A | N/A | N/A | | **34a** | **Type of subordination (only for eligible liabilities)** | N/A | N/A | N/A | | **UK-34b** | **Ranking of the instrument in normal insolvency proceedings $^2$** | 1 - Ordinary Shares | 1 - Ordinary Shares | 1 - Ordinary Shares | | **35** | **Position in subordination hierarchy in liquidation (specify instrument type immediately senior to instrument)** | Immediately subordinate to Additional Tier 1 | Immediately subordinate to Additional Tier 1 | Immediately subordinate to Additional Tier 1 | | **36** | **Non-compliant transitioned features** | No | No | No | | **37** | **If yes, specify non-compliant features** | N/A | N/A | N/A | | **37a** | **Link to the full term and conditions of the intrument (signposting)** | Available on request | Available on request | Available on request | $^1$ Represents the portion of ordinary share capital and share premium which is held outside of the consolidated reporting entity. $^2$ Insolvency ranking information aligns with the creditor ranking tables included within HSBC Group's TLAC2/TLAC3 Pillar 3 disclosures, where applicable. --- ## Counts towards own funds and MREL requirements: AT1 | | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | |---|---|---|---|---|---| | **2a** | **Public or private placement** | Public | Public | Public | Public | Public | | **3** | **Governing law(s) of the instrument** | Laws of the State of New York, save for the subordination provision | Laws of the State of New York, save for the subordination provision and Section 2.20(a) of the supplemental indenture (consent to the exercise of UK bail-in power) | English law | Laws of the State of New York, save for the subordination provision | Laws of the State of New York, save for the subordination provision | Laws of the State of New York, save for the subordination provision | | **3a** | **Contractual recognition of write down and conversion powers of resolution authorities** | Yes | Yes | No | Yes | Yes | Yes | | **4** | **Regulatory treatment** | | | | | | | | | **Current treatment taking into account, where applicable, transitional CRR rules** | Additional Tier 1 | Additional Tier 1 | Additional Tier 1 | Additional Tier 1 | Additional Tier 1 | Additional Tier 1 | | | **Post-transitional CRR rules** | Additional Tier 1 | Additional Tier 1 | Additional Tier 1 | Additional Tier 1 | Additional Tier 1 | Additional Tier 1 | | **5** | **Eligible at solo/(sub-)consolidated/ solo&(sub-)consolidated** | Consolidated | Consolidated | Consolidated | Consolidated | Consolidated | Consolidated | | **6** | **Instrument type (types to be specified by each jurisdiction)** | Perpetual Subordinated Contingent Convertible Securities | Perpetual Subordinated Contingent Convertible Securities | Perpetual Subordinated Contingent Convertible Securities | Perpetual Subordinated Contingent Convertible Securities | Perpetual Subordinated Contingent Convertible Securities | Perpetual Subordinated Contingent Convertible Securities | | **7** | **Amount recognised in regulatory capital or eligible liabilities (Currency in million, as of most recent reporting date)$^2$** | USD 2,450m | USD 3,000m | USD 1,421m | USD 1,800m | USD 1,301m | USD 1,107m | | **8** | **Nominal amount of instrument** | USD 2.450m | USD 3,000m | EUR 1,250m (USD 1,297m) | USD 1,800m | GBP 1,000m (USD 1,254m) | SGD 1,500m (USD 1,100m) | | **UK-9a** | **Issue price** | 100.000% | 100.000% | 100.000% | 100.000% | 100.000% | 100.000% | | **UK-9b** | **Redemption price** | 100.000% | 100.000% | 100.000% | 100.000% | 100.000% | 100.000% | | **10** | **Accounting classification** | Shareholders' equity | Shareholders' equity | Shareholders' equity | Shareholders' equity | Shareholders' equity | Shareholders' equity | | **11** | **Original date of issuance** | 30 Mar 2015 | 22 May 2017 | 04 Jul 2017 | 23 Mar 2018 | 28 Sep 2018 | 14 Jun 2024 | | **12** | **Perpetual or dated** | Perpetual | Perpetual | Perpetual | Perpetual | Perpetual | Perpetual | | **13** | **Original maturity date** | | | | | | | | **14** | **Issuer call subject to prior supervisory approval** | Yes | Yes | Yes | Yes | Yes | Yes | | **15** | **Optional call date, contingent call dates and redemption amount** | 30 Mar 2025 / Tax and Capital Disqualification event at any time / Par | 23 Mar 2028/Tax and Capital Disqualification event at 22 May 2027 / Tax and Capital Disqualification event at 4 Jul 2029/Tax and Capital Disqualification event at any time / Par | 22 May 2027 / Tax and Capital Disqualification event at any time / Par | 23 Mar 2028/Tax and Capital Disqualification event at any time / Par | 28 Sep 2026 / Tax and Capital Disqualification event at any time / Par | 14 June 2029/ Tax and Capital Disqualification event at any time / Par | | **16** | **Subsequent call dates, if applicable** | Every 5 years after first call | Every 5 years after first call | Every 5 years after first call | Every 5 years after first call | Every 5 years after first call | Every 5 years after first call | | **Coupons/dividends** | | | | | | | | | **17** | **Fixed or floating dividend/coupon** | Fixed to floating | Fixed to floating | Fixed to floating | Fixed to floating | Fixed to floating | Fixed to floating | | **18** | **Coupon rate and any related index** | From 30/03/2025 rate resets from fixed 6.375% to 5 year USD Mid-Market Swap Rate + 4.368%, resettable every 5 years. | From 22/05/2027 rate resets from fixed 6.000% to 5 year USD Mid-Market Swap Rate + 3.746%, resettable every 5 years. | From 04/07/2029 rate resets from fixed 4.750% to 5 year EUR Mid-Market Swap Rate + 3.844%, resettable every 5 years. | From 23/03/2028 rate resets from fixed 6.500% to 5 year USD Mid-Market Swap Rate + 3.606%, resettable every 5 years. | From 28/09/2026 rate resets from fixed 5.875% to 5 year GBP Mid-Market Swap Rate + 4.276%, resettable every 5 years. | From 14/12/2029 rate resets from fixed 5.250% to 5-year SORA-OIS + 2.237% | | **19** | **Existence of a dividend stopper** | No | No | No | No | No | No | | **UK-20a** | **Fully discretionary, partially discretionary or mandatory (in terms of timing)** | Fully Discretionary | Fully Discretionary | Fully Discretionary | Fully Discretionary | Fully Discretionary | Fully Discretionary | | **UK-20b** | **Fully discretionary, partially discretionary or mandatory (in terms of amount)** | Fully Discretionary | Fully Discretionary | Fully Discretionary | Fully Discretionary | Fully Discretionary | Fully Discretionary | | **21** | **Existence of step up or other incentive to redeem** | No | No | No | No | No | No | | **22** | **Non-cumulative or cumulative** | Non-cumulative | Non-cumulative | Non-cumulative | Non-cumulative | Non-cumulative | Non-cumulative | | **23** | **Convertible or non-convertible** | Convertible | Convertible | Convertible | Convertible | Convertible | Convertible | | **24** | **If convertible, conversion trigger(s)** | 7% CET1: Contractual. Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009-UK BoE/PRA- Contractual recognition | 7% CET1: Contractual. Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | 7% CET1: Contractual. Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009-UK BOE/PRA | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009-UK BoE/PRA - Contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BOE/PRA | | **25** | **If convertible, fully or partially** | Always convert fully | Always convert fully | Always convert fully | Always convert fully | Always convert fully | Always convert fully | | **26** | **If convertible, conversion rate** | USD 4.03488 per ordinary share | USD 3.4799 per ordinary share | EUR 3.05451 per ordinary share | USD 3.7881 per ordinary share | GBP 2.70 per ordinary share | Not specified | | **27** | **If convertible, mandatory or optional conversion** | Mandatory upon the occurrence of certain events | Mandatory upon the occurrence of certain events | Mandatory upon the occurrence of certain events | Mandatory upon the occurrence of certain events | Mandatory upon the occurrence of certain events | Mandatory upon the occurrence of certain events | | **28** | **If convertible, specify instrument type convertible into** | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | | **29** | **If convertible, specify issuer of instrument it converts into** | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | | **30** | **Write-down features** | Yes | Yes | Yes | Yes | Yes | Yes | | **31** | **If write-down, write-down trigger(s)** | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009-UK BoE/PRA- Contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009-UK BOE/PRA | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA | | **32** | **If write-down, full or partial** | May be written down partially | May be written down partially | May be written down partially | May be written down partially | May be written down partially | May be written down partially | | **33** | **If write-down, permanent or temporary** | Permanent | Permanent | Permanent | Permanent | Permanent | Permanent | | **34** | **If temporary write-down, description of write-up mechanism** | N/A | N/A | N/A | N/A | N/A | N/A | | **34a** | **Type of subordination (only for eligible liabilities)** | | | | | | | | **UK-34b** | **Ranking of the instrument in normal insolvency proceedings $^3$** | 2- Preference shares, AT1 instruments and certain Subordinated Notes | 2- Preference shares. AT1 instruments and certain Subordinated Notes | 2- Preference shares, AT1 instruments and certain Subordinated Notes | 2- Preference shares, AT1 instruments and certain Subordinated Notes | 2- Preference shares, AT1 instruments and certain Subordinated Notes | 2- Preference shares, AT1 instruments and certain Subordinated Notes | | **35** | **Position in subordination hierarchy in liquidation (specify instrument type immediately senior to instrument)** | Immediately subordinate to Tier 2 instruments | Immediately subordinate to Tier 2 instruments | Immediately subordinate to Tier 2 instruments | Immediately subordinate to Tier 2 instruments | Immediately subordinate to Tier 2 instruments | Immediately subordinate to Tier 2 instruments | | **36** | **Non-compliant transitioned features** | No | No | No | No | No | No | | **37** | **If yes, specify non-compliant features** | N/A | N/A | N/A | N/A | N/A | N/A | | **37a** | **Link to the full term and conditions of the intrument (signposting)** | click here | click here | click here | click here | click here | click here | --- ## Counts towards own funds and MREL requirements: AT1 | | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | |---|---|---|---|---|---| | **2a** | **Public or private placement** | Public | Public | Public | Public | Public | | **3** | **Governing law(s) of the instrument** | Laws of the State of New York, save for the subordination provision | Laws of the State of New York, save for the subordination provision | Laws of the State of New York, save for the subordination provision | Laws of the State of New York, save for the subordination provision | English law | | **3a** | **Contractual recognition of write down and conversion powers of resolution authorities** | Yes | Yes | Yes | Yes | Yes | | **4** | **Regulatory treatment** | | | | | | | | | **Current treatment taking into account, where applicable, transitional CRR rules** | Additional Tier 1 | Additional Tier 1 | Additional Tier 1 | Additional Tier 1 | Additional Tier 1 | Additional Tier 1 | | | **Post-transitional CRR rules** | Additional Tier 1 | Additional Tier 1 | Additional Tier 1 | Additional Tier 1 | Additional Tier 1 | Additional Tier 1 | | **5** | **Eligible at solo/(sub-)consolidated/ solo&(sub-)consolidated** | Consolidated | Consolidated | Consolidated | Consolidated | Consolidated | Consolidated | | **6** | **Instrument type (types to be specified by each jurisdiction)** | Perpetual Subordinated Contingent Convertible Securities | Perpetual Subordinated Contingent Convertible Securities | Perpetual Subordinated Contingent Convertible Securities | Perpetual Subordinated Contingent Convertible Securities | Perpetual Subordinated Contingent Convertible Securities | Perpetual Subordinated Contingent Convertible Securities | | **7** | **Amount recognised in regulatory capital or eligible liabilities (Currency in million, as of most recent reporting date)$^2$** | USD 1,500m | USD 1,000m | USD 1,000m | USD 1,996m | USD 1,800m | USD 1,301m | | **8** | **Nominal amount of instrument** | USD 1.500m | USD 1,000m | USD 1,000m | USD 2,000m | USD 1,800m | GBP 1,000m (USD 1,254m) | | **UK-9a** | **Issue price** | 100.000% | 100.000% | 100.000% | 100.000% | 100.000% | 100.000% | | **UK-9b** | **Redemption price** | 100.000% | 100.000% | 100.000% | 100.000% | 100.000% | 100.000% | | **10** | **Accounting classification** | Shareholders' equity | Shareholders' equity | Shareholders' equity | Shareholders' equity | Shareholders' equity | Shareholders' equity | | **11** | **Original date of issuance** | 17 Dec 2020 | 09 Mar 2021 | 09 Mar 2021 | 07 Mar 2023 | 23 Mar 2018 | 28 Sep 2018 | | **12** | **Perpetual or dated** | Perpetual | Perpetual | Perpetual | Perpetual | Perpetual | Perpetual | | **13** | **Original maturity date** | | | | | | | | **14** | **Issuer call subject to prior supervisory approval** | Yes | Yes | Yes | Yes | Yes | Yes | | **15** | **Optional call date, contingent call dates and redemption amount** | From 6 months prior to 17 Jun 2031 / Tax and Capital Disqualification event at any time/Par | From 6 months prior to 9 Sep 2026 / Tax and Capital Disqualification event at any time / Par | From 6 months prior to 9 Sep 2031 / Tax and Capital Disqualification event at any time / Par | From 6 months prior to 7 Sep 2028 / Tax and Capital Disqualification event at any time / Par | 23 Mar 2028/Tax and Capital Disqualification event at any time / Par | 28 Sep 2026 / Tax and Capital Disqualification event at any time / Par | | **16** | **Subsequent call dates, if applicable** | Every 5 years after first call | Every 5 years after first call | Every 5 years after first call | Every 5 years after first call | Every 5 years after first call | Every 5 years after first call | | **Coupons/dividends** | | | | | | | | | **17** | **Fixed or floating dividend/coupon** | Fixed to floating | Fixed to floating | Fixed to floating | Fixed to floating | Fixed to floating | Fixed to floating | | **18** | **Coupon rate and any related index** | From 17/06/2031 rate resets from fixed 4.600% to U.S. Treasury Rate ("UST") + 3.649%, resettable every 5 years. | From 09/09/2026 rate resets from fixed 4.000% to U.S. Treasury Rate ("UST") + 3.222%, resettable every 5 years. | From 09/09/2031 rate resets from fixed 4.700% to U.S. Treasury Rate ("UST") + 3.250%, resettable every 5 years. | From 07/09/2028 rate resets from fixed 8.000% to U.S. Treasury Rate ("UST") + 3.858%, resettable every 5 years. | From 23/03/2028 rate resets from fixed 6.500% to 5 year USD Mid-Market Swap Rate + 3.606%, resettable every 5 years. | From 28/09/2026 rate resets from fixed 5.875% to 5 year GBP Mid-Market Swap Rate + 4.276%, resettable every 5 years. | | **19** | **Existence of a dividend stopper** | No | No | No | No | No | No | | **UK-20a** | **Fully discretionary, partially discretionary or mandatory (in terms of timing)** | Fully Discretionary | Fully Discretionary | Fully Discretionary | Fully Discretionary | Fully Discretionary | Fully Discretionary | | **UK-20b** | **Fully discretionary, partially discretionary or mandatory (in terms of amount)** | Fully Discretionary | Fully Discretionary | Fully Discretionary | Fully Discretionary | Fully Discretionary | Fully Discretionary | | **21** | **Existence of step up or other incentive to redeem** | No | No | No | No | No | No | | **22** | **Non-cumulative or cumulative** | Non-cumulative | Non-cumulative | Non-cumulative | Non-cumulative | Non-cumulative | Non-cumulative | | **23** | **Convertible or non-convertible** | Convertible | Convertible | Convertible | Convertible | Convertible | Convertible | | **24** | **If convertible, conversion trigger(s)** | 7% CET1: Contractual Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009-UK BoE/PRA- Contractual recognition | 7% CET1: Contractual. Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | 7% CET1: Contractual. Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009-UK BOE/PRA | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009-UK BoE/PRA - Contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA | | **25** | **If convertible, fully or partially** | Always convert fully | Always convert fully | Always convert fully | Always convert fully | Always convert fully | Always convert fully | | **26** | **If convertible, conversion rate** | USD 3.5878 per ordinary share | USD 3.7703 per ordinary share | EUR 3.05451 per ordinary share | USD 3.7881 per ordinary share | GBP 2.70 per ordinary share | Not specified | | **27** | **If convertible, mandatory or optional conversion** | Mandatory upon the occurrence of certain events | Mandatory upon the occurrence of certain events | Mandatory upon the occurrence of certain events | Mandatory upon the occurrence of certain events | Mandatory upon the occurrence of certain events | Mandatory upon the occurrence of certain events | | **28** | **If convertible, specify instrument type convertible into** | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | | **29** | **If convertible, specify issuer of instrument it converts into** | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | | **30** | **Write-down features** | Yes | Yes | Yes | Yes | Yes | Yes | | **31** | **If write-down, write-down trigger(s)** | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009-UK BoE/PRA- Contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009-UK BOE/PRA | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA | | **32** | **If write-down, full or partial** | May be written down partially | May be written down partially | May be written down partially | May be written down partially | May be written down partially | May be written down partially | | **33** | **If write-down, permanent or temporary** | Permanent | Permanent | Permanent | Permanent | Permanent | Permanent | | **34** | **If temporary write-down, description of write-up mechanism** | N/A | N/A | N/A | N/A | N/A | N/A | | **34a** | **Type of subordination (only for eligible liabilities)** | | | | | | | | **UK-34b** | **Ranking of the instrument in normal insolvency proceedings $^3$** | 2- Preference shares, AT1 instruments and certain Subordinated Notes | 2- Preference shares. AT1 instruments and certain Subordinated Notes | 2- Preference shares, AT1 instruments and certain Subordinated Notes | 2- Preference shares, AT1 instruments and certain Subordinated Notes | 2- Preference shares, AT1 instruments and certain Subordinated Notes | 2- Preference shares, AT1 instruments and certain Subordinated Notes | | **35** | **Position in subordination hierarchy in liquidation (specify instrument type immediately senior to instrument)** | Immediately subordinate to Tier 2 instruments | Immediately subordinate to Tier 2 instruments | Immediately subordinate to Tier 2 instruments | Immediately subordinate to Tier 2 instruments | Immediately subordinate to Tier 2 instruments | Immediately subordinate to Tier 2 instruments | | **36** | **Non-compliant transitioned features** | No | No | No | No | No | No | | **37** | **If yes, specify non-compliant features** | N/A | N/A | N/A | N/A | N/A | N/A | | **37a** | **Link to the full term and conditions of the intrument (signposting)** | click here | click here | click here | click here | click here | click here | --- ## Counts towards own funds and MREL requirements: AT1 | | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | |---|---|---|---|---|---| | **2a** | **Public or private placement** | Public | Public | Public | Public | Public | | **3** | **Governing law(s) of the instrument** | Laws of the State of New York, save for the subordination provision | Laws of the State of New York, save for the subordination provision | Laws of the State of New York, save for the subordination provision | Laws of the State of New York, save for the subordination provision | English law | | **3a** | **Contractual recognition of write down and conversion powers of resolution authorities** | Yes | Yes | Yes | Yes | Yes | | **4** | **Regulatory treatment** | | | | | | | | | **Current treatment taking into account, where applicable, transitional CRR rules** | Additional Tier 1 | Additional Tier 1 | Additional Tier 1 | Additional Tier 1 | Additional Tier 1 | | | **Post-transitional CRR rules** | Additional Tier 1 | Additional Tier 1 | Additional Tier 1 | Additional Tier 1 | Additional Tier 1 | | **5** | **Eligible at solo/(sub-)consolidated/ solo&(sub-)consolidated** | Consolidated | Consolidated | Consolidated | Consolidated | Consolidated | | **6** | **Instrument type (types to be specified by each jurisdiction)** | Perpetual Subordinated Contingent Convertible Securities | Perpetual Subordinated Contingent Convertible Securities | Perpetual Subordinated Contingent Convertible Securities | Perpetual Subordinated Contingent Convertible Securities | Perpetual Subordinated Contingent Convertible Securities | | **7** | **Amount recognised in regulatory capital or eligible liabilities (Currency in million, as of most recent reporting date)$^2$** | USD 1,347m | USD 1,148m | USD 1,350m | USD 1,000m | USD 1,107m | USD 1,500m | | **8** | **Nominal amount of instrument** | USD 1,350m | USD 1.150m | USD 1,350m | USD 1,000m | USD 1,107m | USD 1,500m | | **UK-9a** | **Issue price** | 100.000% | 100.000% | 100.000% | 100.000% | 100.000% | 100.000% | | **UK-9b** | **Redemption price** | 100.000% | 100.000% | 100.000% | 100.000% | 100.000% | 100.000% | | **10** | **Accounting classification** | Shareholders' equity | Shareholders' equity | Shareholders' equity | Shareholders' equity | Shareholders' equity | Shareholders' equity | | **11** | **Original date of issuance** | 11 Sep 2024 | 11 Sep 2024 | 11 Sep 2024 | 16 Sep 2022 | 14 Jun 2024 | 28 Sep 2018 | | **12** | **Perpetual or dated** | Perpetual | Perpetual | Perpetual | Perpetual | Perpetual | Perpetual | | **13** | **Original maturity date** | | | | | | | | **14** | **Issuer call subject to prior supervisory approval** | Yes | Yes | Yes | Yes | Yes | Yes | | **15** | **Optional call date, contingent call dates and redemption amount** | From 6 months prior to 11 Mar 2030 / Tax and Capital Disqualification Event at any time / Par | From 6 months prior to 11 Sep 2034/ Tax and Capital Disqualification Event at any time / Par | From 6 months prior to 11 Mar 2030 / Tax and Capital Disqualification Event at any time / Par | From 6 months prior to 11 Sep 2034/ Tax and Capital Disqualification Event at any time / Par | From 6 months prior to 14 June 2029/ Tax and Capital Disqualification event at any time / Par | 28 Sep 2026 / Tax and Capital Disqualification event at any time / Par | | **16** | **Subsequent call dates, if applicable** | Every 5 years after first call | Every 5 years after first call | Every 5 years after first call | Every 5 years after first call | Every 5 years after first call | Every 5 years after first call | | **Coupons/dividends** | | | | | | | | | **17** | **Fixed or floating dividend/coupon** | Fixed to floating | Fixed to floating | Fixed to floating | Fixed to floating | Fixed to floating | Fixed to floating | | **18** | **Coupon rate and any related index** | From 11/03/2030 rate resets from fixed 6.875% to U.S. Treasury Rate ("UST") + 3.298%, resettable every 5 years. | From 11/09/2034 rate resets from fixed 6.950% to U.S. Treasury Rate ("UST") + 3.191%, resettable every 5 years. | From 11/03/2030 rate resets from fixed 6.875% to U.S. Treasury Rate ("UST") + 3.298%, resettable every 5 years. | From 11/09/2034 rate resets from fixed 6.950% to U.S. Treasury Rate ("UST") + 3.191%, resettable every 5 years. | From 14/12/2029 rate resets from fixed 5.250% to 5-year SORA OIS + 2.237% | From 28/09/2026 rate resets from fixed 5.875% to 5 year GBP Mid-Market Swap Rate + 4.276%, resettable every 5 years. | | **19** | **Existence of a dividend stopper** | No | No | No | No | No | No | | **UK-20a** | **Fully discretionary, partially discretionary or mandatory (in terms of timing)** | Fully Discretionary | Fully Discretionary | Fully Discretionary | Fully Discretionary | Fully Discretionary | Fully Discretionary | | **UK-20b** | **Fully discretionary, partially discretionary or mandatory (in terms of amount)** | Fully Discretionary | Fully Discretionary | Fully Discretionary | Fully Discretionary | Fully Discretionary | Fully Discretionary | | **21** | **Existence of step up or other incentive to redeem** | No | No | No | No | No | No | | **22** | **Non-cumulative or cumulative** | Non-cumulative | Non-cumulative | Non-cumulative | Non-cumulative | Non-cumulative | Non-cumulative | | **23** | **Convertible or non-convertible** | Convertible | Convertible | Convertible | Convertible | Convertible | Convertible | | **24** | **If convertible, conversion trigger(s)** | 7% CET1: Contractual. Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009-UK BoE/PRA- Contractual recognition | 7% CET1: Contractual. Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | 7% CET1: Contractual. Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009-UK BOE/PRA | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009-UK BoE/PRA - Contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA | | **25** | **If convertible, fully or partially** | Always convert fully | Always convert fully | Always convert fully | Always convert fully | Always convert fully | Always convert fully | | **26** | **If convertible, conversion rate** | USD 3.55 per Conversion Share | USD 3.55 per Conversion Share | USD 3.55 per Conversion Share | USD 3.7881 per ordinary share | GBP 2.70 per ordinary share | Not specified | | **27** | **If convertible, mandatory or optional conversion** | Mandatory upon the occurrence of certain events | Mandatory upon the occurrence of certain events | Mandatory upon the occurrence of certain events | Mandatory upon the occurrence of certain events | Mandatory upon the occurrence of certain events | Mandatory upon the occurrence of certain events | | **28** | **If convertible, specify instrument type convertible into** | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | | **29** | **If convertible, specify issuer of instrument it converts into** | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | | **30** | **Write-down features** | Yes | Yes | Yes | Yes | Yes | Yes | | **31** | **If write-down, write-down trigger(s)** | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009-UK BoE/PRA- Contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009-UK BOE/PRA | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA | | **32** | **If write-down, full or partial** | May be written down partially | May be written down partially | May be written down partially | May be written down partially | May be written down partially | May be written down partially | | **33** | **If write-down, permanent or temporary** | Permanent | Permanent | Permanent | Permanent | Permanent | Permanent | | **34** | **If temporary write-down, description of write-up mechanism** | N/A | N/A | N/A | N/A | N/A | N/A | | **34a** | **Type of subordination (only for eligible liabilities)** | | | | | | | | **UK-34b** | **Ranking of the instrument in normal insolvency proceedings $^3$** | 2- Preference shares, AT1 instruments and certain Subordinated Notes | 2- Preference shares. AT1 instruments and certain Subordinated Notes | 2- Preference shares, AT1 instruments and certain Subordinated Notes | 2- Preference shares, AT1 instruments and certain Subordinated Notes | 2- Preference shares, AT1 instruments and certain Subordinated Notes | 2- Preference shares, AT1 instruments and certain Subordinated Notes | | **35** | **Position in subordination hierarchy in liquidation (specify instrument type immediately senior to instrument)** | Immediately subordinate to Tier 2 instruments | Immediately subordinate to Tier 2 instruments | Immediately subordinate to Tier 2 instruments | Immediately subordinate to Tier 2 instruments | Immediately subordinate to Tier 2 instruments | Immediately subordinate to Tier 2 instruments | | **36** | **Non-compliant transitioned features** | No | No | No | No | No | No | | **37** | **If yes, specify non-compliant features** | N/A | N/A | N/A | N/A | N/A | N/A | | **37a** | **Link to the full term and conditions of the intrument (signposting)** | click here | click here | click here | click here | click here | click here | --- ## Counts towards own funds and MREL requirements: Tier 2 | | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | |---|---|---|---|---|---| | **2a** | **Public or private placement** | Public | Public | Public | Public | Public | | **3** | **Governing law(s) of the instrument** | English law | Laws of the State of New York, save for the subordination provision | Laws of the State of New York, save for the subordination provision | English law | Laws of the State of New York, save for the subordination provision | | **3a** | **Contractual recognition of write down and conversion powers of resolution authorities** | No | No | No | Yes | No | | **4** | **Regulatory treatment** | | | | | | | | | **Current treatment taking into account, where applicable, transitional CRR rules** | Tier 2 | Tier 2 | Tier 2 | Tier 2 | Tier 2 | | | **Post-transitional CRR rules** | Tier 2 | Tier 2 | Tier 2 | Tier 2 | Tier 2 | | **5** | **Eligible at solo/(sub-)consolidated/ solo&(sub-)consolidated** | Consolidated | Consolidated | Consolidated | Consolidated | Consolidated | | **6** | **Instrument type (types to be specified by each jurisdiction)** | Tier 2 | Tier 2 | Tier 2 | Tier 2 | Tier 2 | | **7** | **Amount recognised in regulatory capital or eligible liabilities (Currency in million, as of most recent reporting date)$^2$** | USD 445m | USD 293m | USD 136m | USD 1,394m | USD 1,105m | USD 620m | | **8** | **Nominal amount of instrument** | GBP 650m (USD 815m) | USD 264m | USD 125m | USD 1,431m | USD 1,515m | GBP 650m (USD 815m) | | **UK-9a** | **Issue price** | 100.000% | 100.000% | 100.000% | 100.000% | 100.000% | 100.000% | | **UK-9b** | **Redemption price** | 100.000% | 100.000% | 100.000% | 100.000% | 100.000% | 100.000% | | **10** | **Accounting classification** | Liability - fair value | Liability amortised cost | Liability amortised cost | Liability amortised cost | Liability amortised cost | Liability amortised cost | | **11** | **Original date of issuance** | 20 Dec 2002 | 30 Aug 2005 | 03 May 2006 | 12 Sep 2007 | 29 Mar 2010 | 27 Nov 2032 | | **12** | **Perpetual or dated** | Dated | Dated | Dated | Dated | Dated | Dated | | **13** | **Original maturity date** | 20 Dec 2027 | 17 May 2032 | 02 May 2036 | 15 Sep 2037 | 29 Mar 2040 | 27 Nov 2032 | | **14** | **Issuer call subject to prior supervisory approval** | Yes | Yes | Yes | Yes | Yes | Yes | | **15** | **Optional call date, contingent call dates and redemption amount** | Tax event at any time / Par | Tax event at any time / Par | Tax event at any time / Par | Tax event at any time / Par | Tax event at any time / Par | Tax event at any time / Par | | **16** | **Subsequent call dates, if applicable** | N/A | N/A | N/A | N/A | N/A | N/A | | **Coupons/dividends** | | | | | | | | | **17** | **Fixed or floating dividend/coupon** | Fixed | Fixed | Fixed | Fixed | Fixed | Fixed | | **18** | **Coupon rate and any related index** | 5.750% | 7.625% | 7.350% | 6.500% | 6.500% | 6.000% | | **19** | **Existence of a dividend stopper** | No | No | No | No | No | No | | **UK-20a** | **Fully discretionary, partially discretionary or mandatory (in terms of timing)** | Mandatory | Mandatory | Mandatory | Mandatory | Mandatory | Mandatory | | **UK-20b** | **Fully discretionary, partially discretionary or mandatory (in terms of amount)** | Mandatory | Mandatory | Mandatory | Mandatory | Mandatory | Mandatory | | **21** | **Existence of step up or other incentive to redeem** | No | No | No | No | No | No | | **22** | **Non-cumulative or cumulative** | Cumulative | Cumulative | Cumulative | Cumulative | Cumulative | Cumulative | | **23** | **Convertible or non-convertible** | Convertible | Non-convertible | Non-convertible | Non-convertible | Convertible | Convertible | | **24** | **If convertible, conversion trigger(s)** | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA | N/A | N/A | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | | **25** | **If convertible, fully or partially** | May convert fully or partially | N/A | N/A | May convert fully or partially | May convert fully or partially | May convert fully or partially | | **26** | **If convertible, conversion rate** | To be determined at conversion | N/A | N/A | To be determined at conversion | To be determined at conversion | To be determined at conversion | | **27** | **If convertible, mandatory or optional conversion** | Mandatory upon satisfaction of certain conditions | N/A | N/A | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | | **28** | **If convertible, specify instrument type convertible into** | Common Equity Tier 1 | N/A | N/A | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | | **29** | **If convertible, specify issuer of instrument it converts into** | HSBC Holdings plc | N/A | N/A | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | | **30** | **Write-down features** | Yes | No | Yes | Yes | Yes | Yes | | **31** | **If write-down, write-down trigger(s)** | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA | N/A | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | | **32** | **If write-down, full or partial** | May be written down partially | N/A | May be written down partially | May be written down partially | May be written down partially | May be written down partially | | **33** | **If write-down, permanent or temporary** | Permanent | N/A | Permanent | Permanent | Permanent | Permanent | | **34** | **If temporary write-down, description of write-up mechanism** | N/A | N/A | N/A | N/A | N/A | N/A | | **34a** | **Type of subordination (only for eligible liabilities)** | 3- Subordinated notes | 3- Subordinated notes | 3- Subordinated notes | 3- Subordinated notes | 3- Subordinated notes | 3- Subordinated notes | | **UK-34b** | **Ranking of the instrument in normal insolvency proceedings $^3$** | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | | **35** | **Position in subordination hierarchy in liquidation (specify instrument type immediately senior to instrument)** | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | | **36** | **Non-compliant transitioned features** | No | Yes | Yes | No | No | No | | **37** | **If yes, specify non-compliant features** | click here | No contractual recognition provision for exercise of statutory write down/conversion powers. Grandfathered to 28 Jun 2025 | No contractual recognition provision for exercise of statutory write down/conversion powers. Grandfathered to 28 Jun 2025 | click here | click here | click here | | **37a** | **Link to the full term and conditions of the intrument (signposting)** | click here | click here | click here | click here | click here | click here | $^2$ Regulatory Values are before adjustments for the Disallowed Non-Controlling Interests which are not done at instrument level. $^3$ Insolvency ranking information aligns with the creditor ranking tables included within HSBC Group's TLAC2/TLAC3 Pillar 3 disclosures, where applicable. *HSBC Holdings plc announced on 19 February 2025 that it will no longer count these securities as Tier 2 instruments for UK CRR purposes. Furthermore, HSBC Holdings plc will also not count these securities towards its minimum requirements for own funds and eligible liabilities. --- ## Counts towards own funds and MREL requirements: Tier 2 | | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings pic | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | |---|---|---|---|---|---|---| | **2a** | **Public or private placement** | Public | Public | Public | Public | Public | Public | | **3** | **Governing law(s) of the instrument** | English law | Laws of the State of New York, save for the subordination provision | Laws of the State of New York, save for the subordination provision | English law | Laws of the State of New York, save for the subordination provision | Laws of the State of New York, save for the subordination provision | | **3a** | **Contractual recognition of write down and conversion powers of resolution authorities** | No | No | No | Yes | Yes | Yes | | **4** | **Regulatory treatment** | | | | | | | | | **Current treatment taking into account, where applicable, transitional CRR rules** | Tier 2 | Tier 2 | Tier 2 | Tier 2 | Tier 2 | Tier 2 | | | **Post-transitional CRR rules** | Tier 2 | Tier 2 | Tier 2 | Tier 2 | Tier 2 | Tier 2 | | **5** | **Eligible at solo/(sub-)consolidated/solo& (sub-)consolidated** | Consolidated | Consolidated | Consolidated | Consolidated | Consolidated | Consolidated | | **6** | **Instrument type (types to be specified by each jurisdiction)** | Tier 2 | Tier 2 | Tier 2 | Tier 2 | Tier 2 | Tier 2 | | **7** | **Amount recognised in regulatory capital or eligible liabilities (Currency in million, as of most recent reporting date)$^2$** | USD 927m | USD 912m | USD 620m | USD 1,040m | USD 1,156m | USD 76m | | **8** | **Nominal amount of instrument** | GBP 750m (USD 941m) | USD 961m | GBP 650m (USD 815m) | USD 1,500m | GBP 900m (USD 1,129m) | JPY 11,900m (USD 76m) | | **UK-9a** | **Issue price** | 100.000% | 100.000% | 100.000% | 100.000% | 100.000% | 100.000% | | **UK-9b** | **Redemption price** | 100.000% | 100.000% | 100.000% | 100.000% | 100.000% | 100.000% | | **10** | **Accounting classification** | Liability amortised cost | Liability amortised cost | Liability amortised cost | Liability amortised cost | Liability amortised cost | Liability fair value | | **11** | **Original date of issuance** | 07 Apr 2008 | 27 May 2008 | 11 Sep 2008 | 29 Mar 2010 | 12 Mar 2014 | 16 Sep 2022 | | **12** | **Perpetual or dated** | Dated | Dated | Dated | Dated | Dated | Dated | | **13** | **Original maturity date** | 07 Apr 2038 | 01 Jun 2038 | 11 Sep 2028 | 29 Mar 2040 | 14 Mar 2044 | 15 Sep 2032 | | **14** | **Issuer call subject to prior supervisory approval** | Yes | Yes | Yes | Yes | Yes | Yes | | **15** | **Optional call date, contingent call dates and redemption amount** | Tax event at any time / Par | Tax event at any time / Par | Tax event at any time / Par | Tax event at any time / Par | Tax or Capital disqualification event at any time/Par | Tax or Capital disqualification event at any time / Par | | **16** | **Subsequent call dates, if applicable** | N/A | N/A | N/A | N/A | N/A | N/A | | **Coupons/dividends** | | | | | | | | | **17** | **Fixed or floating dividend/coupon** | Fixed | Fixed | Fixed | Fixed | Fixed | Fixed to Floating | | **18** | **Coupon rate and any related index** | 7.000% | 6.800% | 6.750% | 6.500% | 6.500% | From 16/09/2027 rate resets from fixed 1.478% to JPY 1-year TONA Tokyo Swap Rate + 1.350% | | **19** | **Existence of a dividend stopper** | No | No | No | No | No | No | | **UK-20a** | **Fully discretionary, partially discretionary or mandatory (in terms of timing)** | Mandatory | Mandatory | Mandatory | Mandatory | Mandatory | Mandatory | | **UK-20b** | **Fully discretionary, partially discretionary or mandatory (in terms of amount)** | Mandatory | Mandatory | Mandatory | Mandatory | Mandatory | Mandatory | | **21** | **Existence of step up or other incentive to redeem** | No | No | No | No | No | No | | **22** | **Non-cumulative or cumulative** | Cumulative | Cumulative | Cumulative | Cumulative | Cumulative | Cumulative | | **23** | **Convertible or non-convertible** | Convertible | Non-convertible | Non-convertible | Convertible | Convertible | Convertible | | **24** | **If convertible, conversion trigger(s)** | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA | N/A | N/A | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | | **25** | **If convertible, fully or partially** | May convert fully or partially | N/A | N/A | May convert fully or partially | May convert fully or partially | May convert fully or partially | | **26** | **If convertible, conversion rate** | To be determined at conversion | N/A | N/A | To be determined at conversion | To be determined at conversion | To be determined at conversion | | **27** | **If convertible, mandatory or optional conversion** | Mandatory upon satisfaction of certain conditions | N/A | N/A | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | | **28** | **If convertible, specify instrument type convertible into** | Common Equity Tier 1 | N/A | N/A | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | | **29** | **If convertible, specify issuer of instrument it converts into** | HSBC Holdings plc | N/A | N/A | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | | **30** | **Write-down features** | Yes | No | Yes | Yes | Yes | Yes | | **31** | **If write-down, write-down trigger(s)** | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA | N/A | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | | **32** | **If write-down, full or partial** | May be written down partially | N/A | May be written down partially | May be written down partially | May be written down partially | May be written down partially | | **33** | **If write-down, permanent or temporary** | Permanent | N/A | Permanent | Permanent | Permanent | Permanent | | **34** | **If temporary write-down, description of write-up mechanism** | N/A | N/A | N/A | N/A | N/A | N/A | | **34a** | **Type of subordination (only for eligible liabilities)** | 3- Subordinated notes | 3- Subordinated notes | 3- Subordinated notes | 3- Subordinated notes | 3- Subordinated notes | 3- Subordinated notes | | **UK-34b** | **Ranking of the instrument in normal insolvency proceedings $^3$** | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | | **35** | **Position in subordination hierarchy in liquidation (specify instrument type immediately senior to instrument)** | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | | **36** | **Non-compliant transitioned features** | No | Yes | Yes | No | No | No | | **37** | **If yes, specify non-compliant features** | click here | No contractual recognition provision for exercise of statutory write down/conversion powers. Grandfathered to 28 Jun 2025 | No contractual recognition provision for exercise of statutory write down/conversion powers. Grandfathered to 28 Jun 2025 | click here | click here | click here | | **37a** | **Link to the full term and conditions of the intrument (signposting)** | click here | click here | click here | click here | click here | click here | $^2$ Regulatory Values are before adjustments for the Disallowed Non-Controlling Interests which are not done at instrument level. $^3$ Insolvency ranking information aligns with the creditor ranking tables included within HSBC Group's TLAC2/TLAC3 Pillar 3 disclosures, where applicable. --- ## Counts towards own funds and MREL requirements: Tier 2 | | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings pic | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | |---|---|---|---|---|---|---| | **2a** | **Public or private placement** | Public | Public | Public | Public | Public | Public | | **3** | **Governing law(s) of the instrument** | English law | Laws of the State of New York, save for the subordination provision | Laws of the State of New York, save for the subordination provision | English law | Laws of the State of New York, save for the subordination provision | Laws of the State of New York, save for the subordination provision | | **3a** | **Contractual recognition of write down and conversion powers of resolution authorities** | Yes | Yes | Yes | Yes | Yes | Yes | | **4** | **Regulatory treatment** | | | | | | | | | **Current treatment taking into account, where applicable, transitional CRR rules** | Tier 2 | Tier 2 | Tier 2 | Tier 2 | Tier 2 | Tier 2 | | | **Post-transitional CRR rules** | Tier 2 | Tier 2 | Tier 2 | Tier 2 | Tier 2 | Tier 2 | | **5** | **Eligible at solo/(sub-)consolidated/solo& (sub-)consolidated** | Consolidated | Consolidated | Consolidated | Consolidated | Consolidated | Consolidated | | **6** | **Instrument type (types to be specified by each jurisdiction)** | Tier 2 | Tier 2 | Tier 2 | Tier 2 | Tier 2 | Tier 2 | | **7** | **Amount recognised in regulatory capital or eligible liabilities (Currency in million, as of most recent reporting date)$^2$** | USD 685m | USD 76m | USD 197m | USD 91m | USD 541m | USD 1,107m | | **8** | **Nominal amount of instrument** | SGD 900m (USD 660m) | JPY 11,900m (USD 76m) | USD 223m | USD 97m | USD 569m | GBP 1,000m (USD 1,254m) | | **UK-9a** | **Issue price** | 100.000% | 100.000% | 100.000% | 100.000% | 100.000% | 100.000% | | **UK-9b** | **Redemption price** | 100.000% | 100.000% | 100.000% | 100.000% | 100.000% | 100.000% | | **10** | **Accounting classification** | Liability fair value | Liability amortised cost | Liability amortised cost | Liability amortised cost | Liability fair value | Liability fair value | | **11** | **Original date of issuance** | 27 Jun 2022 | 16 Sep 2022 | 16 Sep 2022 | 02 May 2036 | 16 Sep 2022 | 16 Nov 2022 | | **12** | **Perpetual or dated** | Dated | Dated | Dated | Dated | Dated | Dated | | **13** | **Original maturity date** | 27 Jun 2032 | 15 Sep 2032 | 17 May 2032 | 02 May 2036 | 29 Mar 2033 | 16 Nov 2034 | | **14** | **Issuer call subject to prior supervisory approval** | Yes | Yes | Yes | Yes | Yes | Yes | | **15** | **Optional call date, contingent call dates and redemption amount** | 27 Jun 2027/Tax or Capital disqualification event at any time / Par | 15 Sep 2027/Tax or Capital disqualification event at any time / Par | Tax event at any time / Par | Tax event at any time / Par | 29 Mar 2032/Tax or Capital disqualification event at any time / Par | 16 Nov 2027/Tax or Capital disqualification event at any time / Par | | **16** | **Subsequent call dates, if applicable** | N/A | N/A | N/A | N/A | N/A | N/A | | **Coupons/dividends** | | | | | | | | | **17** | **Fixed or floating dividend/coupon** | Fixed to floating | Fixed | Fixed to floating | Fixed | Fixed | Fixed to floating | | **18** | **Coupon rate and any related index** | From 27/06/2027 rate resets from fixed 5.250% to 5 year SORA OIS + 2.426% | 7.625% | Fixed | 6.500% | 7.350% | From 16/11/2027 rate resets from fixed 6.364% to 5-year EUR Mid-Market Swap Rate + 3.300% | | **19** | **Existence of a dividend stopper** | No | No | No | No | No | No | | **UK-20a** | **Fully discretionary, partially discretionary or mandatory (in terms of timing)** | Mandatory | Mandatory | Mandatory | Mandatory | Mandatory | Mandatory | | **UK-20b** | **Fully discretionary, partially discretionary or mandatory (in terms of amount)** | Mandatory | Mandatory | Mandatory | Mandatory | Mandatory | Mandatory | | **21** | **Existence of step up or other incentive to redeem** | No | No | No | No | No | No | | **22** | **Non-cumulative or cumulative** | Cumulative | Cumulative | Cumulative | Cumulative | Cumulative | Cumulative | | **23** | **Convertible or non-convertible** | Convertible | Convertible | Convertible | Convertible | Convertible | Convertible | | **24** | **If convertible, conversion trigger(s)** | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | | **25** | **If convertible, fully or partially** | May convert fully or partially | May convert fully or partially | May convert fully or partially | May convert fully or partially | May convert fully or partially | May convert fully or partially | | **26** | **If convertible, conversion rate** | To be determined at conversion | To be determined at conversion | To be determined at conversion | To be determined at conversion | To be determined at conversion | To be determined at conversion | | **27** | **If convertible, mandatory or optional conversion** | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | | **28** | **If convertible, specify instrument type convertible into** | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | | **29** | **If convertible, specify issuer of instrument it converts into** | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | | **30** | **Write-down features** | Yes | Yes | Yes | Yes | Yes | Yes | | **31** | **If write-down, write-down trigger(s)** | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | | **32** | **If write-down, full or partial** | May be written down partially | May be written down partially | May be written down partially | May be written down partially | May be written down partially | May be written down partially | | **33** | **If write-down, permanent or temporary** | Permanent | Permanent | Permanent | Permanent | Permanent | Permanent | | **34** | **If temporary write-down, description of write-up mechanism** | N/A | N/A | N/A | N/A | N/A | N/A | | **34a** | **Type of subordination (only for eligible liabilities)** | 3- Subordinated notes | 3- Subordinated notes | 3- Subordinated notes | 3- Subordinated notes | 3- Subordinated notes | 3- Subordinated notes | | **UK-34b** | **Ranking of the instrument in normal insolvency proceedings $^3$** | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | | **35** | **Position in subordination hierarchy in liquidation (specify instrument type immediately senior to instrument)** | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | | **36** | **Non-compliant transitioned features** | No | No | No | No | No | No | | **37** | **If yes, specify non-compliant features** | click here | click here | click here | click here | click here | click here | | **37a** | **Link to the full term and conditions of the intrument (signposting)** | click here | click here | click here | click here | click here | click here | $^2$ Regulatory Values are before adjustments for the Disallowed Non-Controlling Interests which are not done at instrument level. $^3$ Insolvency ranking information aligns with the creditor ranking tables included within HSBC Group's TLAC2/TLAC3 Pillar 3 disclosures, where applicable. --- ## Counts towards own funds and MREL requirements: Tier 2 | | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | |---|---|---|---|---|---|---| | **2a** | **Public or private placement** | Public | Public | Public | Public | Public | Public | | **3** | **Governing law(s) of the instrument** | Laws of New South Wales, Australia save for subordination and set-off provision | Laws of New South Wales, Australia save for subordination and set-off provision | English law | Laws of the State of New York, save for the subordination provision | English law | Laws of the State of New York, save for the subordination provision | | **3a** | **Contractual recognition of write down and conversion powers of resolution authorities** | Yes | Yes | Yes | Yes | Yes | Yes | | **4** | **Regulatory treatment** | | | | | | | | | **Current treatment taking into account, where applicable, transitional CRR rules** | Tier 2 | Tier 2 | Tier 2 | Tier 2 | Tier 2 | Tier 2 | | | **Post-transitional CRR rules** | Tier 2 | Tier 2 | Tier 2 | Tier 2 | Tier 2 | Tier 2 | | **5** | **Eligible at solo/(sub-)consolidated/solo& (sub-)consolidated** | Consolidated | Consolidated | Consolidated | Consolidated | Consolidated | Consolidated | | **6** | **Instrument type (types to be specified by each jurisdiction)** | Tier 2 | Tier 2 | Tier 2 | Tier 2 | Tier 2 | Tier 2 | | **7** | **Amount recognised in regulatory capital or eligible liabilities (Currency in million, as of most recent reporting date)$^2$** | USD 543m | USD 403m | USD 1,059m | USD 1,728m | USD 1,556m | USD 1,038m | | **8** | **Nominal amount of instrument** | AUD 850m (USD 527m) | AUD 650m (USD 403m) | EUR 1,000m (USD 1,038m) | USD 1,750m | EUR 1,500m (USD 1,556m) | EUR 1,000m (USD 1,038m) | | **UK-9a** | **Issue price** | 100.000% | 100.000% | 100.000% | 100.000% | 100.000% | 100.000% | | **UK-9b** | **Redemption price** | 100.000% | 100.000% | 100.000% | 100.000% | 100.000% | 100.000% | | **10** | **Accounting classification** | Liability fair value | Liability amortised cost | Liability - fair value | Liability amortised cost | Liability amortised cost | Liability amortised cost | | **11** | **Original date of issuance** | 21 Mar 2024 | 21 Mar 2024 | 22 Mar 2024 | 30 Jun 2015 | 16 Nov 2022 | 16 Nov 2022 | | **12** | **Perpetual or dated** | Dated | Dated | Dated | Dated | Dated | Dated | | **13** | **Original maturity date** | 21 Mar 2034 | 21 Mar 2034 | 29 Mar 2033 | 30 Jun 2025 | 16 Nov 2034 | 16 Nov 2034 | | **14** | **Issuer call subject to prior supervisory approval** | Yes | Yes | Yes | Yes | Yes | Yes | | **15** | **Optional call date, contingent call dates and redemption amount** | 21 Mar 2029 / Tax event or Capital disqualification event at any time / Par | 21 Mar 2029/Tax event or Capital disqualification event at any time / Par | 29 Mar 2032/Tax or Capital disqualification event at any time / Par | Tax or Capital disqualification event at any time / Par | 13 Nov 2033/Tax or Capital disqualification event at any time / Par | 16 Nov 2029 / Tax or Capital disqualification event at any time / Par | | **16** | **Subsequent call dates, if applicable** | N/A | N/A | N/A | N/A | N/A | N/A | | **Coupons/dividends** | | | | | | | | | **17** | **Fixed or floating dividend/coupon** | Fixed to floating | Floating | Fixed to floating | Fixed | Fixed to floating | Fixed to floating | | **18** | **Coupon rate and any related index** | From 21/03/2029 rate changes from fixed 6.211% to 3 month BBSW + 2.300% | 3 month BBSW + 2.300% | From 29/03/2032 rate changes from fixed 4.762% to SOFR + 2.530% | 5.250% | From 03/11/2032 rate changes from fixed 8.113% to SOFR + 4.250% | From 16/11/2029 rate resets from fixed 8.201% to Benchmark Gilt rate + 4.550% | | **19** | **Existence of a dividend stopper** | No | No | No | No | No | No | | **UK-20a** | **Fully discretionary, partially discretionary or mandatory (in terms of timing)** | Mandatory | Mandatory | Mandatory | Mandatory | Mandatory | Mandatory | | **UK-20b** | **Fully discretionary, partially discretionary or mandatory (in terms of amount)** | Mandatory | Mandatory | Mandatory | Mandatory | Mandatory | Mandatory | | **21** | **Existence of step up or other incentive to redeem** | No | No | No | No | No | No | | **22** | **Non-cumulative or cumulative** | Cumulative | Cumulative | Cumulative | Cumulative | Cumulative | Cumulative | | **23** | **Convertible or non-convertible** | Convertible | Convertible | Convertible | Convertible | Convertible | Convertible | | **24** | **If convertible, conversion trigger(s)** | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | | **25** | **If convertible, fully or partially** | May convert fully or partially | May convert fully or partially | May convert fully or partially | May convert fully or partially | May convert fully or partially | May convert fully or partially | | **26** | **If convertible, conversion rate** | To be determined at conversion | To be determined at conversion | To be determined at conversion | To be determined at conversion | To be determined at conversion | To be determined at conversion | | **27** | **If convertible, mandatory or optional conversion** | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | | **28** | **If convertible, specify instrument type convertible into** | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | | **29** | **If convertible, specify issuer of instrument it converts into** | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | | **30** | **Write-down features** | Yes | Yes | Yes | Yes | Yes | Yes | | **31** | **If write-down, write-down trigger(s)** | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | | **32** | **If write-down, full or partial** | May be written down partially | May be written down partially | May be written down partially | May be written down partially | May be written down partially | May be written down partially | | **33** | **If write-down, permanent or temporary** | Permanent | Permanent | Permanent | Permanent | Permanent | Permanent | | **34** | **If temporary write-down, description of write-up mechanism** | N/A | N/A | N/A | N/A | N/A | N/A | | **34a** | **Type of subordination (only for eligible liabilities)** | 3- Subordinated notes | 3- Subordinated notes | 3- Subordinated notes | 3- Subordinated notes | 3- Subordinated notes | 3- Subordinated notes | | **UK-34b** | **Ranking of the instrument in normal insolvency proceedings $^3$** | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | | **35** | **Position in subordination hierarchy in liquidation (specify instrument type immediately senior to instrument)** | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | | **36** | **Non-compliant transitioned features** | No | No | No | No | No | No | | **37** | **If yes, specify non-compliant features** | click here | click here | click here | click here | click here | click here | | **37a** | **Link to the full term and conditions of the intrument (signposting)** | click here | click here | click here | click here | click here | click here | $^2$ Regulatory Values are before adjustments for the Disallowed Non-Controlling Interests which are not done at instrument level. $^3$ Insolvency ranking information aligns with the creditor ranking tables included within HSBC Group's TLAC2/TLAC3 Pillar 3 disclosures, where applicable. --- ## Counts towards own funds and MREL requirements: Tier 2 | | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | |---|---|---|---|---|---|---| | **2a** | **Public or private placement** | Public | Public | Public | Public | Public | Public | | **3** | **Governing law(s) of the instrument** | English law | Laws of the State of New York, save for the subordination provision | Laws of the State of New York, save for the subordination provision | English law | Laws of the State of New York, save for the subordination provision | Laws of the State of New York, save for the subordination provision | | **3a** | **Contractual recognition of write down and conversion powers of resolution authorities** | Yes | Yes | Yes | Yes | Yes | Yes | | **4** | **Regulatory treatment** | | | | | | | | | **Current treatment taking into account, where applicable, transitional CRR rules** | Tier 2 | Tier 2 | Tier 2 | Tier 2 | Tier 2 | Tier 2 | | | **Post-transitional CRR rules** | Tier 2 | Tier 2 | Tier 2 | Tier 2 | Tier 2 | Tier 2 | | **5** | **Eligible at solo/(sub-)consolidated/solo& (sub-)consolidated** | Consolidated | Consolidated | Consolidated | Consolidated | Consolidated | Consolidated | | **6** | **Instrument type (types to be specified by each jurisdiction)** | Tier 2 | Tier 2 | Tier 2 | Tier 2 | Tier 2 | Tier 2 | | **7** | **Amount recognised in regulatory capital or eligible liabilities (Currency in million, as of most recent reporting date)$^2$** | USD 153m | USD 113m | USD 661m | USD 307m | USD 1,996m | USD 835m | | **8** | **Nominal amount of instrument** | USD 150m | USD 113m | USD 661m | USD 307m | USD 2,000m | USD 834m | | **UK-9a** | **Issue price** | 100.000% | 100.000% | 100.000% | 100.000% | 100.000% | 100.000% | | **UK-9b** | **Redemption price** | 100.000% | 100.000% | 100.000% | 100.000% | 100.000% | 100.000% | | **10** | **Accounting classification** | Liability - fair value | Liability - fair value | Liability - fair value | Liability fair value | Liability - amortised cost | Liability - fair value | | **11** | **Original date of issuance** | 07 Jun 2016 | 23 Nov 2016 | 30 Jun 2015 | 29 Mar 2022 | 16 Sep 2022 | 12 Sep 2018 | | **12** | **Perpetual or dated** | Dated | Dated | Dated | Dated | Dated | Dated | | **13** | **Original maturity date** | 07 Jun 2028 | 23 Nov 2026 | 30 Jun 2025 | 29 Mar 2033 | 16 Sep 2037 | 12 Sep 2026 | | **14** | **Issuer call subject to prior supervisory approval** | Yes | Yes | Yes | Yes | Yes | Yes | | **15** | **Optional call date, contingent call dates and redemption amount** | Tax or Capital disqualification event at any time / Par | Tax or Capital disqualification event at any time / Par | Tax or Capital disqualification event at any time / Par | Tax or Capital disqualification event at any time / Par | 29 Mar 2032/Tax or Capital disqualification event at any time / Par | 12 Sep 2025/ Tax or Capital disqualification event at any time / Par | | **16** | **Subsequent call dates, if applicable** | N/A | N/A | N/A | N/A | N/A | N/A | | **Coupons/dividends** | | | | | | | | | **17** | **Fixed or floating dividend/coupon** | Fixed | Fixed | Fixed | Fixed to Floating | Fixed to floating | Fixed to floating | | **18** | **Coupon rate and any related index** | 3.000% | 4.250% | 3.125% | From 29/03/2032 rate changes from fixed 4.762% to SOFR + 2.530% | From 16/09/2032 rate changes from fixed 5.250% to SOFR + 2.550% | From 12/09/2025 rate resets from fixed 1.478% to JPY 1-year TONA Tokyo Swap Rate + 1.350% | | **19** | **Existence of a dividend stopper** | No | No | No | No | No | No | | **UK-20a** | **Fully discretionary, partially discretionary or mandatory (in terms of timing)** | Mandatory | Mandatory | Mandatory | Mandatory | Mandatory | Mandatory | | **UK-20b** | **Fully discretionary, partially discretionary or mandatory (in terms of amount)** | Mandatory | Mandatory | Mandatory | Mandatory | Mandatory | Mandatory | | **21** | **Existence of step up or other incentive to redeem** | No | No | No | No | No | No | | **22** | **Non-cumulative or cumulative** | Cumulative | Cumulative | Cumulative | Cumulative | Cumulative | Cumulative | | **23** | **Convertible or non-convertible** | Convertible | Convertible | Convertible | Convertible | Convertible | Convertible | | **24** | **If convertible, conversion trigger(s)** | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | | **25** | **If convertible, fully or partially** | May convert fully or partially | May convert fully or partially | May convert fully or partially | May convert fully or partially | May convert fully or partially | May convert fully or partially | | **26** | **If convertible, conversion rate** | To be determined at conversion | To be determined at conversion | To be determined at conversion | To be determined at conversion | To be determined at conversion | To be determined at conversion | | **27** | **If convertible, mandatory or optional conversion** | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | | **28** | **If convertible, specify instrument type convertible into** | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | | **29** | **If convertible, specify issuer of instrument it converts into** | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | | **30** | **Write-down features** | Yes | Yes | Yes | Yes | Yes | Yes | | **31** | **If write-down, write-down trigger(s)** | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | | **32** | **If write-down, full or partial** | May be written down partially | May be written down partially | May be written down partially | May be written down partially | May be written down partially | May be written down partially | | **33** | **If write-down, permanent or temporary** | Permanent | Permanent | Permanent | Permanent | Permanent | Permanent | | **34** | **If temporary write-down, description of write-up mechanism** | N/A | N/A | N/A | N/A | N/A | N/A | | **34a** | **Type of subordination (only for eligible liabilities)** | 3- Subordinated notes | 3- Subordinated notes | 3- Subordinated notes | 3- Subordinated notes | 3- Subordinated notes | 3- Subordinated notes | | **UK-34b** | **Ranking of the instrument in normal insolvency proceedings $^3$** | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | | **35** | **Position in subordination hierarchy in liquidation (specify instrument type immediately senior to instrument)** | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | | **36** | **Non-compliant transitioned features** | No | No | No | No | No | No | | **37** | **If yes, specify non-compliant features** | click here | click here | click here | click here | click here | click here | | **37a** | **Link to the full term and conditions of the intrument (signposting)** | click here | click here | click here | click here | click here | click here | $^2$ Regulatory Values are before adjustments for the Disallowed Non-Controlling Interests which are not done at instrument level. $^3$ Insolvency ranking information aligns with the creditor ranking tables included within HSBC Group's TLAC2/TLAC3 Pillar 3 disclosures, where applicable. --- ## Counts towards own funds and MREL requirements: Tier 2 | | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | |---|---|---|---|---|---|---| | **2a** | **Public or private placement** | Public | Public | Public | Public | Public | Public | | **3** | **Governing law(s) of the instrument** | English law | Laws of the State of New York, save for the subordination provision | Laws of the State of New York, save for the subordination provision | English law | Laws of the State of New York, save for the subordination provision | Laws of the State of New York, save for the subordination provision | | **3a** | **Contractual recognition of write down and conversion powers of resolution authorities** | Yes | Yes | Yes | Yes | Yes | Yes | | **4** | **Regulatory treatment** | | | | | | | | | **Current treatment taking into account, where applicable, transitional CRR rules** | Tier 2 | Tier 2 | Tier 2 | Tier 2 | Tier 2 | Tier 2 | | | **Post-transitional CRR rules** | Tier 2 | Tier 2 | Tier 2 | Tier 2 | Tier 2 | Tier 2 | | **5** | **Eligible at solo/(sub-)consolidated/solo& (sub-)consolidated** | Consolidated | Consolidated | Consolidated | Consolidated | Consolidated | Consolidated | | **6** | **Instrument type (types to be specified by each jurisdiction)** | Tier 2 | Tier 2 | Tier 2 | Tier 2 | Tier 2 | Tier 2 | | **7** | **Amount recognised in regulatory capital or eligible liabilities (Currency in million, as of most recent reporting date)$^2$** | USD 543m | USD 403m | USD 1,059m | USD 1,728m | USD 1,556m | USD 1,038m | | **8** | **Nominal amount of instrument** | AUD 850m (USD 527m) | AUD 650m (USD 403m) | EUR 1,000m (USD 1,038m) | USD 1,750m | EUR 1,500m (USD 1,556m) | EUR 1,000m (USD 1,038m) | | **UK-9a** | **Issue price** | 100.000% | 100.000% | 100.000% | 100.000% | 100.000% | 100.000% | | **UK-9b** | **Redemption price** | 100.000% | 100.000% | 100.000% | 100.000% | 100.000% | 100.000% | | **10** | **Accounting classification** | Liability fair value | Liability amortised cost | Liability - fair value | Liability amortised cost | Liability amortised cost | Liability amortised cost | | **11** | **Original date of issuance** | 21 Mar 2024 | 21 Mar 2024 | 22 Mar 2024 | 30 Jun 2015 | 16 Nov 2022 | 16 Nov 2022 | | **12** | **Perpetual or dated** | Dated | Dated | Dated | Dated | Dated | Dated | | **13** | **Original maturity date** | 21 Mar 2034 | 21 Mar 2034 | 29 Mar 2033 | 30 Jun 2025 | 16 Nov 2034 | 16 Nov 2034 | | **14** | **Issuer call subject to prior supervisory approval** | Yes | Yes | Yes | Yes | Yes | Yes | | **15** | **Optional call date, contingent call dates and redemption amount** | 21 Mar 2029 / Tax event or Capital disqualification event at any time / Par | 21 Mar 2029/Tax event or Capital disqualification event at any time / Par | 29 Mar 2032/Tax or Capital disqualification event at any time / Par | Tax or Capital disqualification event at any time / Par | 13 Nov 2033/Tax or Capital disqualification event at any time / Par | 16 Nov 2027/Tax or Capital disqualification event at any time / Par | | **16** | **Subsequent call dates, if applicable** | N/A | N/A | N/A | N/A | N/A | N/A | | **Coupons/dividends** | | | | | | | | | **17** | **Fixed or floating dividend/coupon** | Fixed to floating | Floating | Fixed to floating | Fixed | Fixed to floating | Fixed to floating | | **18** | **Coupon rate and any related index** | From 21/03/2029 rate changes from fixed 6.211% to 3 month BBSW + 2.300% | 3 month BBSW + 2.300% | From 29/03/2032 rate changes from fixed 4.762% to SOFR + 2.530% | 5.250% | From 03/11/2032 rate changes from fixed 8.113% to SOFR + 4.250% | From 16/11/2029 rate resets from fixed 8.201% to Benchmark Gilt rate + 4.550% | | **19** | **Existence of a dividend stopper** | No | No | No | No | No | No | | **UK-20a** | **Fully discretionary, partially discretionary or mandatory (in terms of timing)** | Mandatory | Mandatory | Mandatory | Mandatory | Mandatory | Mandatory | | **UK-20b** | **Fully discretionary, partially discretionary or mandatory (in terms of amount)** | Mandatory | Mandatory | Mandatory | Mandatory | Mandatory | Mandatory | | **21** | **Existence of step up or other incentive to redeem** | No | No | No | No | No | No | | **22** | **Non-cumulative or cumulative** | Cumulative | Cumulative | Cumulative | Cumulative | Cumulative | Cumulative | | **23** | **Convertible or non-convertible** | Convertible | Convertible | Convertible | Convertible | Convertible | Convertible | | **24** | **If convertible, conversion trigger(s)** | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | | **25** | **If convertible, fully or partially** | May convert fully or partially | May convert fully or partially | May convert fully or partially | May convert fully or partially | May convert fully or partially | May convert fully or partially | | **26** | **If convertible, conversion rate** | To be determined at conversion | To be determined at conversion | To be determined at conversion | To be determined at conversion | To be determined at conversion | To be determined at conversion | | **27** | **If convertible, mandatory or optional conversion** | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | | **28** | **If convertible, specify instrument type convertible into** | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | | **29** | **If convertible, specify issuer of instrument it converts into** | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | | **30** | **Write-down features** | Yes | Yes | Yes | Yes | Yes | Yes | | **31** | **If write-down, write-down trigger(s)** | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | | **32** | **If write-down, full or partial** | May be written down partially | May be written down partially | May be written down partially | May be written down partially | May be written down partially | May be written down partially | | **33** | **If write-down, permanent or temporary** | Permanent | Permanent | Permanent | Permanent | Permanent | Permanent | | **34** | **If temporary write-down, description of write-up mechanism** | N/A | N/A | N/A | N/A | N/A | N/A | | **34a** | **Type of subordination (only for eligible liabilities)** | 3- Subordinated notes | 3- Subordinated notes | 3- Subordinated notes | 3- Subordinated notes | 3- Subordinated notes | 3- Subordinated notes | | **UK-34b** | **Ranking of the instrument in normal insolvency proceedings $^3$** | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | | **35** | **Position in subordination hierarchy in liquidation (specify instrument type immediately senior to instrument)** | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | | **36** | **Non-compliant transitioned features** | No | No | No | No | No | No | | **37** | **If yes, specify non-compliant features** | click here | click here | click here | click here | click here | click here | | **37a** | **Link to the full term and conditions of the intrument (signposting)** | click here | click here | click here | click here | click here | click here | $^2$ Regulatory Values are before adjustments for the Disallowed Non-Controlling Interests which are not done at instrument level. $^3$ Insolvency ranking information aligns with the creditor ranking tables included within HSBC Group's TLAC2/TLAC3 Pillar 3 disclosures, where applicable. --- ## Counts towards own funds (but does not count towards MREL requirements): Tier 2 | | HSBC Bank USA, National Association | HSBC Bank USA, National Association | HSBC Bank USA, National Association | HSBC Continental Europe (transferred from HSBC Trinkaus & Burkhardt GmbH)$^5$ | |---|---|---|---|---| | **2a** | **Public or private placement** | Public | Public | Public | Private Placement | | **3** | **Governing law(s) of the instrument** | Laws of the State of New York | Laws of the State of New York | Laws of the State of New York | German law | | **3a** | **Contractual recognition of write down and conversion powers of resolution authorities** | No | No | No | No | | **4** | **Regulatory treatment** | | | | | | | | **Current treatment taking into account, where applicable, transitional CRR rules** | Tier 2 | Tier 2 | Subordinated debt | Tier 2 | | | **Post-transitional CRR rules** | Tier 2 | Tier 2 | Tier 2 | Ineligible | | **5** | **Eligible at solo/(sub-)consolidated/solo&(sub-)consolidated** | Solo and Consolidated | Solo and Consolidated | Solo and Consolidated | Solo and Consolidated | | **6** | **Instrument type (types to be specified by each jurisdiction)** | Tier 2 | Tier 2 | Subordinated debt | Tier 2 | | **7** | **Amount recognised in regulatory capital or eligible liabilities (Currency in million, as of most recent reporting date)$^2$** | USD 700m | USD 364m | USD 397m | USD 7m | | **8** | **Nominal amount of instrument** | USD 700m | USD 357m | USD 383m | EUR 10m (USD 10m) | | **UK-9a** | **Issue price** | 100.000% | 100.000% | 100.000% | 86.530% | | **UK-9b** | **Redemption price** | 100.000% | 100.000% | 100.000% | 100.000% | | **10** | **Accounting classification** | Liability - fair value | Liability fair value | Liability amortised cost | Liability amortised cost | | **11** | **Original date of issuance** | 25 Oct 2004 | 17 Aug 2005 | 18 Jun 2008 | 25 Jun 2002 | | **12** | **Perpetual or dated** | Dated | Dated | Dated | Dated | | **13** | **Original maturity date** | 01 Nov 2034 | 15 Aug 2035 | 15 Jan 2039 | 26 Jun 2028 | | **14** | **Issuer call subject to prior supervisory approval** | Yes | Yes | Yes | No | | **15** | **Optional call date, contingent call dates and redemption amount** | Tax event at any time / Par | Tax event at any time / Par | Tax event at any time / Par | N/A | | **16** | **Subsequent call dates, if applicable** | N/A | N/A | N/A | N/A | | **Coupons/dividends** | | | | | | | **17** | **Fixed or floating dividend/coupon** | Fixed | Fixed | Fixed | Fixed | | **18** | **Coupon rate and any related index** | 5.875% | 5.625% | 7.000% | 5.500% | | **19** | **Existence of a dividend stopper** | No | No | No | No | | **UK-20a** | **Fully discretionary, partially discretionary or mandatory (in terms of timing)** | Partially discretionary | Partially discretionary | Partially discretionary | Mandatory | | **UK-20b** | **Fully discretionary, partially discretionary or mandatory (in terms of amount)** | Mandatory | Mandatory | Mandatory | Mandatory | | **21** | **Existence of step up or other incentive to redeem** | No | No | No | No | | **22** | **Non-cumulative or cumulative** | Cumulative | Cumulative | Cumulative | Cumulative | | **23** | **Convertible or non-convertible** | Non-convertible | Non-convertible | Non-convertible | Convertible | | **24** | **If convertible, conversion trigger(s)** | N/A | N/A | N/A | Triggers to statutory resolution under Section 11(d) of the Federal Deposit Insurance Act - FDIC as receiver | | **25** | **If convertible, fully or partially** | N/A | N/A | N/A | May be written down partially | | **26** | **If convertible, conversion rate** | N/A | N/A | N/A | Permanent | | **27** | **If convertible, mandatory or optional conversion** | N/A | N/A | N/A | N/A | | **28** | **If convertible, specify instrument type convertible into** | N/A | N/A | N/A | Common Equity Tier 1 | | **29** | **If convertible, specify issuer of instrument it converts into** | N/A | N/A | N/A | HSBC Continental Europe | | **30** | **Write-down features** | Yes | Yes | Yes | Yes | | **31** | **If write-down, write-down trigger(s)** | Triggers to statutory resolution under Section 11(d) of the Federal Deposit Insurance Act - FDIC as receiver | Triggers to statutory resolution under Section 11(d) of the Federal Deposit Insurance Act - FDIC as receiver | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under the Single Resolution Mechanism (SRM) Regulation - Single Resolution Board (SRB) | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under the Single Resolution Mechanism (SRM) Regulation - Single Resolution Board (SRB) | | **32** | **If write-down, full or partial** | May be written down partially | May be written down partially | May convert fully or partially | May convert fully or partially | | **33** | **If write-down, permanent or temporary** | Permanent | Permanent | To be determined at conversion | Mandatory upon satisfaction of certain conditions | | **34** | **If temporary write-down, description of write-up mechanism** | N/A | N/A | Mandatory upon satisfaction of certain conditions | Common Equity Tier 1 | | **34a** | **Type of subordination (only for eligible liabilities)** | 3- Subordinated loans | 3- Subordinated loans | 3- Tier 2 Instruments | 3- Tier 2 Instruments | | **UK-34b** | **Ranking of the instrument in normal insolvency proceedings $^3$** | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | Immediately subordinated to Senior Non Preferred Instruments | Immediately subordinated to Senior Non Preferred Instruments | | **35** | **Position in subordination hierarchy in liquidation (specify instrument type immediately senior to instrument)** | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | | **36** | **Non-compliant transitioned features** | No | No | No | Yes | | **37** | **If yes, specify non-compliant features** | click here | click here | No express waiver of set-off. Grandfathered to 28 Jun 2025$^4$ | No express waiver of set-off. Grandfathered to 28 Jun 2025$^4$ | | **37a** | **Link to the full term and conditions of the intrument (signposting)** | See footnote | See footnote | Available on request | Available on request | $^2$ Regulatory Values are before adjustments for the Disallowed Non-Controlling Interests which are not done at instrument level. $^3$ Insolvency ranking information aligns with the creditor ranking tables included within HSBC Group's TLAC2/TLAC3 Pillar 3 disclosures, where applicable. $^4$ From 1 January 2022, in line with the Bank of England Statement of Policy on MREL (December 2021), non-CET1 own fund instruments issued externally by subsidiaries of HSBC Holdings plc no longer count towards MREL for the Group or HSBC Bank plc. $^5$ As at 30 June 2023 these liabilities have been transferred to HSBC Continental Europe via a hive-down mechanism, as outlined in the commercial register application, which was filed in the Local Court of Dusseldorf on 5 June 2023. --- ## Counts towards own funds (but does not count towards MREL requirements): Tier 2 | | HSBC Bank plc | HSBC Bank plc | HSBC Continental Europe | |---|---|---|---| | **2a** | **Public or private placement** | Public | Public | Public | | **3** | **Governing law(s) of the instrument** | English law | English law | French law | | **3a** | **Contractual recognition of write down and conversion powers of resolution authorities** | No | No | No | | **4** | **Regulatory treatment** | | | | | | **Current treatment taking into account, where applicable, transitional CRR rules** | Tier 2 | Tier 2 | Tier 2 | | | **Post-transitional CRR rules** | Tier 2 | Tier 2 | Ineligible | | **5** | **Eligible at solo/(sub-)consolidated/solo&(sub-)consolidated** | Solo and Consolidated | Solo and Consolidated | Solo and Consolidated | | **6** | **Instrument type (types to be specified by each jurisdiction)** | Tier 2 | Tier 2 | Tier 2 | | **7** | **Amount recognised in regulatory capital or eligible liabilities (Currency in million, as of most recent reporting date)$^2$** | USD 191m | USD 207m | USD 17m | | **8** | **Nominal amount of instrument** | GBP 157m (USD 197m) | GBP 237m (USD 298m) | EUR 16m (USD 17m) | | **UK-9a** | **Issue price** | 98.825% | 98.507% | 100.000% | | **UK-9b** | **Redemption price** | 100.000% | 100.000% | 100.000% | | **10** | **Accounting classification** | Liability fair value | Liability amortised cost | Liability amortised cost | | **11** | **Original date of issuance** | 22 Aug 2003 | 24 Mar 2006 | 22 Jul 1985 | | **12** | **Perpetual or dated** | Dated | Dated | Perpetual | | **13** | **Original maturity date** | 22 Aug 2033 | 24 Mar 2046 | | | **14** | **Issuer call subject to prior supervisory approval** | Yes | Yes | No | | **15** | **Optional call date, contingent call dates and redemption amount** | Tax event at any time / Par | Tax event at any time / Par | N/A | | **16** | **Subsequent call dates, if applicable** | N/A | N/A | N/A | | **Coupons/dividends** | | | | | | **17** | **Fixed or floating dividend/coupon** | Fixed | Fixed | Floating | | **18** | **Coupon rate and any related index** | 5.375% | 4.750% | TEC10 (TMO has been replaced by TEC10+0.25%, i.e. 10y constant maturity French government bond) + 0.250% | | **19** | **Existence of a dividend stopper** | No | No | No | | **UK-20a** | **Fully discretionary, partially discretionary or mandatory (in terms of timing)** | Mandatory | Mandatory | Mandatory | | **UK-20b** | **Fully discretionary, partially discretionary or mandatory (in terms of amount)** | Mandatory | Mandatory | Mandatory | | **21** | **Existence of step up or other incentive to redeem** | No | No | No | | **22** | **Non-cumulative or cumulative** | Cumulative | Cumulative | Cumulative | | **23** | **Convertible or non-convertible** | Convertible | Convertible | Convertible | | **24** | **If convertible, conversion trigger(s)** | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BOE/PRA | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 – UK BOE/PRA | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under the Single Resolution Mechanism (SRM) Regulation - Single Resolution Board (SRB) | | **25** | **If convertible, fully or partially** | May convert fully or partially | May convert fully or partially | May convert fully or partially | | **26** | **If convertible, conversion rate** | To be determined at conversion | To be determined at conversion | To be determined at conversion | | **27** | **If convertible, mandatory or optional conversion** | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | | **28** | **If convertible, specify instrument type convertible into** | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | | **29** | **If convertible, specify issuer of instrument it converts into** | HSBC Bank plc | HSBC Bank plc | HSBC Continental Europe | | **30** | **Write-down features** | Yes | Yes | Yes | | **31** | **If write-down, write-down trigger(s)** | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BOE/PRA | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 – UK BOE/PRA | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under the Single Resolution Mechanism (SRM) Regulation - Single Resolution Board (SRB) | | **32** | **If write-down, full or partial** | May be written down partially | May be written down partially | May be written down partially | | **33** | **If write-down, permanent or temporary** | Permanent | Permanent | Permanent | | **34** | **If temporary write-down, description of write-up mechanism** | N/A | N/A | N/A | | **34a** | **Type of subordination (only for eligible liabilities)** | 4- Subordinated notes and subordinated loans | 4- Subordinated notes and subordinated loans | 3 - Subordinated loans | | **UK-34b** | **Ranking of the instrument in normal insolvency proceedings $^3$** | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | Immediately subordinate to more senior Tier 2 instruments | | **35** | **Position in subordination hierarchy in liquidation (specify instrument type immediately senior to instrument)** | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | Immediately subordinate to senior creditors | | **36** | **Non-compliant transitioned features** | Yes | Yes | No | | **37** | **If yes, specify non-compliant features** | No contractual recognition provision for exercise of statutory write-down/ conversion powers. Grandfathered to 28 Jun 2025$^4$ | No contractual recognition provision for exercise of statutory write-down/ conversion powers. Grandfathered to 28 Jun 2025$^4$ | No express waiver of set-off. Grandfathered to 28 Jun 2025$^4$ | | **37a** | **Link to the full term and conditions of the intrument (signposting)** | click here | click here | click here | $^2$ Regulatory Values are before adjustments for the Disallowed Non-Controlling Interests which are not done at instrument level. $^3$ Insolvency ranking information aligns with the creditor ranking tables included within HSBC Group's TLAC2/TLAC3 Pillar 3 disclosures, where applicable. $^4$ From 1 January 2022, in line with the Bank of England Statement of Policy on MREL (December 2021), non-CET1 own fund instruments issued externally by subsidiaries of HSBC Holdings plc no longer count towards MREL for the Group or HSBC Bank plc. --- ## Only Eligible Liabilities (that count towards MREL requirements) | | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | |---|---|---|---|---|---| | **2a** | **Public or private placement** | Public | Public | Public | Public | Public | | **3** | **Governing law(s) of the instrument** | Laws of the State of New York | Laws of the State of New York | Laws of the State of New York | Laws of the State of New York | English law | | **3a** | **Contractual recognition of write down and conversion powers of resolution authorities** | No | No | No | Yes | Yes | | **4** | **Regulatory treatment** | | | | | | | | | **Current treatment taking into account, where applicable, transitional CRR rules** | N/A | N/A | N/A | N/A | N/A | | | **Post-transitional CRR rules** | N/A | N/A | N/A | N/A | N/A | | **5** | **Eligible at sola/(sub-) consolidated/ solo&(sub-) consolidated** | N/A | N/A | N/A | N/A | N/A | | **6** | **Instrument type (types to be specified by each jurisdiction)** | Bond | Bond | Bond | Bond | Bond | | **7** | **Amount recognised in regulatory capital or eligible liabilities (Currency in million, as of most recent reporting date)$^2$** | USD 660m | USD 1,697m | USD 761m | USD 1,491m | USD 1,112m | | **8** | **Nominal amount of instrument** | USD 750m | USD 1,758m | EUR 760m (USD 788m) | USD 1,550m | GBP 1,000m (USD 1,254m) | | **UK-9a** | **Issue price** | 100.000% | 100.000% | 100.000% | 100.000% | 100.000% | | **UK-9b** | **Redemption price** | 100.000% | 100.000% | 100.000% | 100.000% | 100.000% | | **10** | **Accounting classification** | Liability - fair value | Liability - fair value | Liability - fair value | Liability - fair value | Liability - fair value | | **11** | **Original date of issuance** | 17 Nov 2011 | 08 Mar 2016 | 15 Mar 2016 | 25 May 2016 | 16 Aug 2016 | | **12** | **Perpetual or dated** | Dated | Dated | Dated | Dated | Dated | | **13** | **Original maturity date** | 14 Jan 2042 | 08 Mar 2026 | 15 Mar 2027 | 25 May 2026 | 16 Aug 2028 | | **14** | **Issuer call subject to prior supervisory approval** | Yes | Yes | Yes | Yes | Yes | | **15** | **Optional call date, contingent call dates and redemption amount** | Tax event at any time / Par | Tax event at any time / Par | Tax event at any time / Par | Tax event at any time / Par | Tax event at any time / Par | | **16** | **Subsequent call dates, if applicable** | N/A | N/A | N/A | N/A | N/A | | **Coupons/dividends** | | | | | | | | **17** | **Fixed or floating dividend/coupon** | Fixed | Fixed | Fixed | Fixed | Fixed | | **18** | **Coupon rate and any related index** | 6.100% | 4.300% | 2.500% | 3.900% | 2.625% | | **19** | **Existence of a dividend stopper** | No | No | No | No | No | | **UK-20a** | **Fully discretionary, partially discretionary or mandatory (in terms of timing)** | Mandatory | Mandatory | Mandatory | Mandatory | Mandatory | | **UK-20b** | **Fully discretionary, partially discretionary or mandatory (in terms of amount)** | Mandatory | Mandatory | Mandatory | Mandatory | Mandatory | | **21** | **Existence of step up or other incentive to redeem** | No | No | No | No | No | | **22** | **Non-cumulative or cumulative** | Cumulative | Cumulative | Cumulative | Cumulative | Cumulative | | **23** | **Convertible or non-convertible** | Convertible | Convertible | Convertible | Convertible | Convertible | | **24** | **If convertible, conversion trigger(s)** | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009-UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA | Triggers to statutory bail-in power under UK Banking Act 2009-UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA | | **25** | **If convertible, fully or partially** | May convert fully or partially | May convert fully or partially | May convert fully or partially | May convert fully or partially | May convert fully or partially | | **26** | **If convertible, conversion rate** | To be determined at conversion | To be determined at conversion | To be determined at conversion | To be determined at conversion | To be determined at conversion | | **27** | **If convertible, mandatory or optional conversion** | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | | **28** | **If convertible, specify instrument type convertible into** | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | | **29** | **If convertible, specify issuer of instrument it converts into** | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | | **30** | **Write-down features** | Yes | Yes | Yes | Yes | Yes | | **31** | **If write-down, write-down trigger(s)** | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009-UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA | Triggers to statutory bail-in power under UK Banking Act 2009-UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA | | **32** | **If write-down, full or partial** | May be written down partially | May be written down partially | May be written down partially | May be written down partially | May be written down partially | | **33** | **If write-down, permanent or temporary** | Permanent | Permanent | Permanent | Permanent | Permanent | | **34** | **If temporary write-down, description of write-up mechanism** | Structural | Structural | Structural | Structural | Structural | | **34a** | **Type of subordination (only for eligible liabilities)** | 4 - Senior notes and other pari passu liabilities | 4 - Senior notes and other pari passu liabilities | 4 - Senior notes and other pari passu liabilities | 4 - Senior notes and other pari passu liabilities | 4 - Senior notes and other pari passu liabilities | | **UK-34b** | **Ranking of the instrument in normal insolvency proceedings $^3$** | N/A | N/A | N/A | N/A | N/A | | **35** | **Position in subordination hierarchy in liquidation (specify instrument type immediately senior to instrument)** | N/A | N/A | N/A | N/A | N/A | | **36** | **Non-compliant transitioned features** | Yes | Yes | Yes | Yes | Yes | | **37** | **If yes, specify non-compliant features** | Right to accelerate the future scheduled payment of interest or principal, other than in the case of the insolvency or liquidation of the resolution entity. Permanently Grandfathered | Right to accelerate the future scheduled payment of interest or principal, other than in the case of the insolvency or liquidation of the resolution entity. Permanently Grandfathered | Right to accelerate the future scheduled payment of interest or principal, other than in the case of the insolvency or liquidation of the resolution entity. Permanently Grandfathered | Right to accelerate the future scheduled payment of interest or principal, other than in the case of the insolvency or liquidation of the resolution entity. Permanently Grandfathered | Right to accelerate the future scheduled payment of interest or principal, other than in the case of the insolvency or liquidation of the resolution entity. Permanently Grandfathered | | **37a** | **Link to the full term and conditions of the intrument (signposting)** | click here | click here | click here | click here | click here | $^2$ Regulatory Values are before adjustments for the Disallowed Non-Controlling Interests which are not done at instrument level. $^3$ Insolvency ranking information aligns with the creditor ranking tables included within HSBC Group's TLAC2/TLAC3 Pillar 3 disclosures, where applicable. *HSBC Holdings plc announced on 19 February 2025 that it will no longer count these securities towards its minimum requirements for own funds and eligible liabilities. --- ## Only Eligible Liabilities (that count towards MREL requirements) | | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | |---|---|---|---|---|---| | **2a** | **Public or private placement** | Public | Public | Public | Public | Private | | **3** | **Governing law(s) of the instrument** | Laws of the State of New York | Laws of the State of New York | Laws of the State of New York | Laws of the State of New York | English law | | **3a** | **Contractual recognition of write down and conversion powers of resolution authorities** | Yes | Yes | Yes | Yes | Yes | | **4** | **Regulatory treatment** | | | | | | | | | **Current treatment taking into account, where applicable, transitional CRR rules** | N/A | N/A | N/A | N/A | N/A | | | **Post-transitional CRR rules** | N/A | N/A | N/A | N/A | N/A | | **5** | **Eligible at sola/(sub-) consolidated/ solo&(sub-) consolidated** | N/A | N/A | N/A | N/A | N/A | | **6** | **Instrument type (types to be specified by each jurisdiction)** | Bond | Bond | Bond | Bond | Bond | | **7** | **Amount recognised in regulatory capital or eligible liabilities (Currency in million, as of most recent reporting date)$^2$** | USD 1,999m | USD 2,225m | USD 2,623m | USD 1,982m | USD 1,218m | | **8** | **Nominal amount of instrument** | USD 2,000m | USD 2,250m | USD 2,750m | USD 2,000m | GBP 1,000m (USD 1,254m) | | **UK-9a** | **Issue price** | 100.000% | 100.000% | 100.000% | 100.000% | 100.000% | | **UK-9b** | **Redemption price** | 100.000% | 100.000% | 100.000% | 100.000% | 100.000% | | **10** | **Accounting classification** | Liability amortised cost | Liability - fair value | Liability - fair value | Liability - amortised cost | Liability - fair value | | **11** | **Original date of issuance** | 09 Mar 2023 | 09 Mar 2023 | 09 Mar 2023 | 13 Mar 2017 | 13 Nov 2017 | | **12** | **Perpetual or dated** | Dated | Dated | Dated | Dated | Dated | | **13** | **Original maturity date** | 09 Mar 2029 | 09 Mar 2034 | 09 Mar 2044 | 13 Mar 2028 | 13 Nov 2026 | | **14** | **Issuer call subject to prior supervisory approval** | Yes | Yes | Yes | Yes | Yes | | **15** | **Optional call date, contingent call dates and redemption amount** | 9 Mar 2028 (or 3 Sep 2023 per Make Whole Call) / Tax or Loss absorption disqualification event at any time / Par or Make Whole Amount (as applicable) | 9 Mar 2033 (or 3 Sep 2023 per Make Whole Call) / Tax or Loss absorption disqualification event at any time / Par or Make Whole Amount (as applicable) | 9 Mar 2043 (or 3 Sep 2023 per Make Whole Call) / Tax or Loss absorption disqualification event at any time/Par or Make Whole Amount (as applicable) | 13 Mar 2027 / Tax event at any time / Par | Tax event at any time / Par | | **16** | **Subsequent call dates, if applicable** | N/A | N/A | N/A | N/A | N/A | | **Coupons/dividends** | | | | | | | | **17** | **Fixed or floating dividend/coupon** | Fixed to floating | Fixed to floating | Fixed to floating | Fixed to floating | Fixed | | **18** | **Coupon rate and any related index** | From 09/03/2028 rate changes from fixed 6.161% to SOFR + 1.970% | From 09/03/2033 rate changes from fixed 6.254% to SOFR + 2.390% | From 09/03/2043 rate changes from fixed 6.332% to SOFR + 2.650% | From 13/03/2027 rate changes from fixed 4.041% to 3 month Term SOFR + 0.26161% (tenor adjustment spread) + 1.546% $^7$ | From 13/11/2025 rate changes from fixed 2.256% to 1 year SONIA Mid-Swap rate + 1.317% | | **19** | **Existence of a dividend stopper** | No | No | No | No | No | | **UK-20a** | **Fully discretionary, partially discretionary or mandatory (in terms of timing)** | Mandatory | Mandatory | Mandatory | Mandatory | Mandatory | | **UK-20b** | **Fully discretionary, partially discretionary or mandatory (in terms of amount)** | Mandatory | Mandatory | Mandatory | Mandatory | Mandatory | | **21** | **Existence of step up or other incentive to redeem** | No | No | No | No | No | | **22** | **Non-cumulative or cumulative** | Cumulative | Cumulative | Cumulative | Cumulative | Cumulative | | **23** | **Convertible or non-convertible** | Convertible | Convertible | Convertible | Convertible | Convertible | | **24** | **If convertible, conversion trigger(s)** | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | | **25** | **If convertible, fully or partially** | May convert fully or partially | May convert fully or partially | May convert fully or partially | May convert fully or partially | May convert fully or partially | | **26** | **If convertible, conversion rate** | To be determined at conversion | To be determined at conversion | To be determined at conversion | To be determined at conversion | To be determined at conversion | | **27** | **If convertible, mandatory or optional conversion** | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | | **28** | **If convertible, specify instrument type convertible into** | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | | **29** | **If convertible, specify issuer of instrument it converts into** | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | | **30** | **Write-down features** | Yes | Yes | Yes | Yes | Yes | | **31** | **If write-down, write-down trigger(s)** | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | | **32** | **If write-down, full or partial** | May be written down partially | May be written down partially | May be written down partially | May be written down partially | May be written down partially | | **33** | **If write-down, permanent or temporary** | Permanent | Permanent | Permanent | Permanent | Permanent | | **34** | **If temporary write-down, description of write-up mechanism** | Structural | Structural | Structural | Structural | Structural | | **34a** | **Type of subordination (only for eligible liabilities)** | 4 - Senior notes and other pari passu liabilities | 4 - Senior notes and other pari passu liabilities | 4 - Senior notes and other pari passu liabilities | 4 - Senior notes and other pari passu liabilities | 4 - Senior notes and other pari passu liabilities | | **UK-34b** | **Ranking of the instrument in normal insolvency proceedings $^3$** | N/A | N/A | N/A | N/A | N/A | | **35** | **Position in subordination hierarchy in liquidation (specify instrument type immediately senior to instrument)** | N/A | N/A | N/A | N/A | N/A | | **36** | **Non-compliant transitioned features** | No | No | No | No | Yes | | **37** | **If yes, specify non-compliant features** | N/A | N/A | N/A | N/A | No waiver of set-off and right to accelerate the future scheduled payment of interest and principal other than in the case of the insolvency or liquidation of the resolution entity. Permanently Grandfathered | | **37a** | **Link to the full term and conditions of the intrument (signposting)** | click here | click here | click here | click here | click here | $^2$ Regulatory Values are before adjustments for the Disallowed Non-Controlling Interests which are not done at instrument level. $^3$ Insolvency ranking information aligns with the creditor ranking tables included within HSBC Group's TLAC2/TLAC3 Pillar 3 disclosures, where applicable. --- ## Only Eligible Liabilities (that count towards MREL requirements) | | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | |---|---|---|---|---|---| | **2a** | **Public or private placement** | Public | Public | Public | Public | Public | | **3** | **Governing law(s) of the instrument** | Laws of the State of New York | Laws of the State of New York | Laws of the State of New York | Laws of the State of New York | Laws of the State of New York | | **3a** | **Contractual recognition of write down and conversion powers of resolution authorities** | Yes | Yes | Yes | Yes | Yes | | **4** | **Regulatory treatment** | | | | | | | | | **Current treatment taking into account, where applicable, transitional CRR rules** | N/A | N/A | N/A | N/A | N/A | | | **Post-transitional CRR rules** | N/A | N/A | N/A | N/A | N/A | | **5** | **Eligible at sola/(sub-) consolidated/ solo&(sub-) consolidated** | N/A | N/A | N/A | N/A | N/A | | **6** | **Instrument type (types to be specified by each jurisdiction)** | Bond | Bond | Bond | Bond | Bond | | **7** | **Amount recognised in regulatory capital or eligible liabilities (Currency in million, as of most recent reporting date)$^2$** | USD 1,877m | USD 1,403m | USD 1,332m | USD 1,932m | USD 919m | | **8** | **Nominal amount of instrument** | USD 1,850m | USD 1,400m | USD 1,350m | USD 2,000m | EUR 1,250m (USD 1,297m) | | **UK-9a** | **Issue price** | 100.000% | 100.000% | 100.000% | 100.000% | 100.000% | | **UK-9b** | **Redemption price** | 100.000% | 100.000% | 100.000% | 100.000% | 100.000% | | **10** | **Accounting classification** | Liability - fair value | Liability amortised cost | Liability - fair value | Liability - amortised cost | Liability - fair value | | **11** | **Original date of issuance** | 17 May 2024 | 17 May 2024 | 20 May 2024 | 16 Sep 2024 | 13 Nov 2023 | | **12** | **Perpetual or dated** | Dated | Dated | Dated | Dated | Dated | | **13** | **Original maturity date** | 17 May 2028 | 17 May 2032 | 20 May 2029 | 16 Sep 2032 | 13 Nov 2034 | | **14** | **Issuer call subject to prior supervisory approval** | Yes | Yes | Yes | Yes | Yes | | **15** | **Optional call date, contingent call dates and redemption amount** | 17 May 2027 (or 17 Nov 2024 per Make Whole Call) / Tax or Loss absorption disqualification event at any time / Par or Make Whole Amount (as applicable) | 17 May 2031 (or 17 Nov 2024 per Make Whole Call) / Tax or Loss absorption disqualification event at any time / Par or Make Whole Amount (as applicable) | 20 May 2028 (or 20 Nov 2024 per Make Whole Call)/ Tax or Loss absorption disqualification event at any time/Par or Make Whole Amount (as applicable) | 16 Sep 2031 (or 16 Mar 2025 per Make Whole Call) / Tax or Loss absorption disqualification event at any time / Par or Make Whole Amount (as applicable) | 13 Nov 2025/ Tax or Loss absorption disqualification event at any time / Par | | **16** | **Subsequent call dates, if applicable** | N/A or at any time to 17 May 2027 per Make Whole Call | N/A or at any time to 17 May 2031 per Make Whole Call | N/A or at any time to 20 May 2028 per Make Whole Call | N/A or at any time to 16 Sep 2031 per Make Whole Call | N/A | | **Coupons/dividends** | | | | | | | | **17** | **Fixed or floating dividend/coupon** | Fixed to floating | Fixed to floating | Fixed to floating | Fixed to floating | Fixed to floating | | **18** | **Coupon rate and any related index** | From 17/05/2027 rate changes from fixed 5.597% to SOFR + 1.520% | From 17/05/2031 rate changes from fixed 5.733% to month Euribor + 0.860% | From 20/05/2028 rate changes from fixed 3.755% to Compounded Daily SONIA Rate + 1.730% | From 16/09/2031 rate changes from fixed 5.290% to month Euribor + 1.189% | From 13/11/2025 rate changes from fixed 0.309% to SOFR + 1.290% | | **19** | **Existence of a dividend stopper** | No | No | No | No | No | | **UK-20a** | **Fully discretionary, partially discretionary or mandatory (in terms of timing)** | Mandatory | Mandatory | Mandatory | Mandatory | Mandatory | | **UK-20b** | **Fully discretionary, partially discretionary or mandatory (in terms of amount)** | Mandatory | Mandatory | Mandatory | Mandatory | Mandatory | | **21** | **Existence of step up or other incentive to redeem** | No | No | No | No | No | | **22** | **Non-cumulative or cumulative** | Cumulative | Cumulative | Cumulative | Cumulative | Cumulative | | **23** | **Convertible or non-convertible** | Convertible | Convertible | Convertible | Convertible | Convertible | | **24** | **If convertible, conversion trigger(s)** | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009-UK BOE/PRA - Statutory and contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | | **25** | **If convertible, fully or partially** | May convert fully or partially | May convert fully or partially | May convert fully or partially | May convert fully or partially | May convert fully or partially | | **26** | **If convertible, conversion rate** | To be determined at conversion | To be determined at conversion | To be determined at conversion | To be determined at conversion | To be determined at conversion | | **27** | **If convertible, mandatory or optional conversion** | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | | **28** | **If convertible, specify instrument type convertible into** | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | | **29** | **If convertible, specify issuer of instrument it converts into** | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | | **30** | **Write-down features** | Yes | Yes | Yes | Yes | Yes | | **31** | **If write-down, write-down trigger(s)** | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009-UK BOE/PRA - Statutory and contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | | **32** | **If write-down, full or partial** | May be written down partially | May be written down partially | May be written down partially | May be written down partially | May be written down partially | | **33** | **If write-down, permanent or temporary** | Permanent | Permanent | Permanent | Permanent | Permanent | | **34** | **If temporary write-down, description of write-up mechanism** | Structural | Structural | Structural | Structural | Structural | | **34a** | **Type of subordination (only for eligible liabilities)** | 4 - Senior notes and other pari passu liabilities | 4 - Senior notes and other pari passu liabilities | 4 - Senior notes and other pari passu liabilities | 4 - Senior notes and other pari passu liabilities | 4 - Senior notes and other pari passu liabilities | | **UK-34b** | **Ranking of the instrument in normal insolvency proceedings $^3$** | N/A | N/A | N/A | N/A | N/A | | **35** | **Position in subordination hierarchy in liquidation (specify instrument type immediately senior to instrument)** | N/A | N/A | N/A | N/A | N/A | | **36** | **Non-compliant transitioned features** | No | No | No | No | No | | **37** | **If yes, specify non-compliant features** | N/A | N/A | N/A | N/A | N/A | | **37a** | **Link to the full term and conditions of the intrument (signposting)** | click here | click here | click here | click here | click here | --- ## Only Eligible Liabilities (that count towards MREL requirements) | | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | |---|---|---|---|---|---| | **2a** | **Public or private placement** | Public | Public | Public | Public | Private | | **3** | **Governing law(s) of the instrument** | Laws of the State of New York | Laws of the State of New York | Laws of the State of New York | Laws of the State of New York | English law | | **3a** | **Contractual recognition of write down and conversion powers of resolution authorities** | Yes | Yes | Yes | Yes | Yes | | **4** | **Regulatory treatment** | | | | | | | | | **Current treatment taking into account, where applicable, transitional CRR rules** | N/A | N/A | N/A | N/A | N/A | | | **Post-transitional CRR rules** | N/A | N/A | N/A | N/A | N/A | | **5** | **Eligible at sola/(sub-) consolidated/ solo&(sub-) consolidated** | N/A | N/A | N/A | N/A | N/A | | **6** | **Instrument type (types to be specified by each jurisdiction)** | Bond | Bond | Bond | Bond | Bond | | **7** | **Amount recognised in regulatory capital or eligible liabilities (Currency in million, as of most recent reporting date)$^2$** | USD 2,877m | USD 750m | USD 2,472m | USD 83m | USD 426m | | **8** | **Nominal amount of instrument** | USD 3,000m | USD 750m | USD 2,500m | JPY 13,100m (USD 84m) | JPY 67,600m (USD 431m) | | **UK-9a** | **Issue price** | 100.000% | 100.000% | 100.000% | 100.000% | 100.000% | | **UK-9b** | **Redemption price** | 100.000% | 100.000% | 100.000% | 100.000% | 100.000% | | **10** | **Accounting classification** | Liability - fair value | Liability amortised cost | Liability - fair value | Liability - fair value | Liability - fair value | | **11** | **Original date of issuance** | 19 Jun 2018 | 12 Sep 2018 | 12 Sep 2018 | 14 Sep 2018 | 14 Sep 2018 | | **12** | **Perpetual or dated** | Dated | Dated | Dated | Dated | Dated | | **13** | **Original maturity date** | 19 Jun 2029 | 12 Sep 2026 | 12 Sep 2026 | 14 Sep 2025 | 14 Sep 2027 | | **14** | **Issuer call subject to prior supervisory approval** | Yes | Yes | Yes | Yes | Yes | | **15** | **Optional call date, contingent call dates and redemption amount** | 19 Jun 2028 / Tax event at any time / Par | 12 Sep 2025/ Tax event at any time / Par | 12 Sep 2025/ Tax event at any time / Par | 14 Sep 2025 / Tax or Loss absorption disqualification event at any time / Par | 14 Sep 2027/Tax or Loss absorption disqualification event at any time / Par | | **16** | **Subsequent call dates, if applicable** | N/A | N/A | N/A | N/A | N/A | | **Coupons/dividends** | | | | | | | | **17** | **Fixed or floating dividend/coupon** | Fixed to floating | Fixed to floating | Fixed to floating | Fixed to floating | Fixed to floating | | **18** | **Coupon rate and any related index** | From 19/06/2028 rate changes from fixed 4.583% to 3 month Term SOFR + 0.26161% (tenor adjustment spread) + 1.535% $^7$ | From 12/09/2025 rate changes from fixed 4.292% to 3 month Term SOFR + 0.26161% (tenor adjustment spread) + 1.348% $^7$ | From 12/09/2025 rate resets from floating 3 month Euribor + 1.000% to 3 month Euribor + 0.500% | From 14/09/2025 rate changes from fixed 0.797% to 6 month JPY LIBOR + 0.550% | From 14/09/2027 rate changes from fixed 0.924% to 1 year JPY Swap Offer Rate + 0.600% | | **19** | **Existence of a dividend stopper** | No | No | No | No | No | | **UK-20a** | **Fully discretionary, partially discretionary or mandatory (in terms of timing)** | Mandatory | Mandatory | Mandatory | Mandatory | Mandatory | | **UK-20b** | **Fully discretionary, partially discretionary or mandatory (in terms of amount)** | Mandatory | Mandatory | Mandatory | Mandatory | Mandatory | | **21** | **Existence of step up or other incentive to redeem** | No | No | No | No | No | | **22** | **Non-cumulative or cumulative** | Cumulative | Cumulative | Cumulative | Cumulative | Cumulative | | **23** | **Convertible or non-convertible** | Convertible | Convertible | Convertible | Convertible | Convertible | | **24** | **If convertible, conversion trigger(s)** | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | | **25** | **If convertible, fully or partially** | May convert fully or partially | May convert fully or partially | May convert fully or partially | May convert fully or partially | May convert fully or partially | | **26** | **If convertible, conversion rate** | To be determined at conversion | To be determined at conversion | To be determined at conversion | To be determined at conversion | To be determined at conversion | | **27** | **If convertible, mandatory or optional conversion** | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | | **28** | **If convertible, specify instrument type convertible into** | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | | **29** | **If convertible, specify issuer of instrument it converts into** | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | | **30** | **Write-down features** | Yes | Yes | Yes | Yes | Yes | | **31** | **If write-down, write-down trigger(s)** | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | | **32** | **If write-down, full or partial** | May be written down partially | May be written down partially | May be written down partially | May be written down partially | May be written down partially | | **33** | **If write-down, permanent or temporary** | Permanent | Permanent | Permanent | Permanent | Permanent | | **34** | **If temporary write-down, description of write-up mechanism** | Structural | Structural | Structural | Structural | Structural | | **34a** | **Type of subordination (only for eligible liabilities)** | 4 - Senior notes and other pari passu liabilities | 4 - Senior notes and other pari passu liabilities | 4 - Senior notes and other pari passu liabilities | 4 - Senior notes and other pari passu liabilities | 4 - Senior notes and other pari passu liabilities | | **UK-34b** | **Ranking of the instrument in normal insolvency proceedings $^3$** | N/A | N/A | N/A | N/A | N/A | | **35** | **Position in subordination hierarchy in liquidation (specify instrument type immediately senior to instrument)** | N/A | N/A | N/A | N/A | N/A | | **36** | **Non-compliant transitioned features** | No | No | No | No | No | | **37** | **If yes, specify non-compliant features** | N/A | N/A | N/A | N/A | N/A | | **37a** | **Link to the full term and conditions of the intrument (signposting)** | click here | click here | click here | click here | click here | --- ## Only Eligible Liabilities (that count towards MREL requirements) | | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | |---|---|---|---|---|---| | **2a** | **Public or private placement** | Public | Public | Public | Public | Public | | **3** | **Governing law(s) of the instrument** | Laws of the State of New York | Laws of the State of New York | Laws of the State of New York | Laws of the State of New York | Laws of the State of New York | | **3a** | **Contractual recognition of write down and conversion powers of resolution authorities** | Yes | Yes | Yes | Yes | Yes | | **4** | **Regulatory treatment** | | | | | | | | | **Current treatment taking into account, where applicable, transitional CRR rules** | N/A | N/A | N/A | N/A | N/A | | | **Post-transitional CRR rules** | N/A | N/A | N/A | N/A | N/A | | **5** | **Eligible at sola/(sub-) consolidated/ solo&(sub-) consolidated** | N/A | N/A | N/A | N/A | N/A | | **6** | **Instrument type (types to be specified by each jurisdiction)** | Bond | Bond | Bond | Bond | Bond | | **7** | **Amount recognised in regulatory capital or eligible liabilities (Currency in million, as of most recent reporting date)$^2$** | USD 1,405m | USD 1,991m | USD 1,334m | USD 1,932m | USD 1,748m | | **8** | **Nominal amount of instrument** | USD 1,500m | USD 2,000m | EUR 1,250m (USD 1,297m) | USD 2,000m | USD 1,750m | | **UK-9a** | **Issue price** | 100.000% | 100.000% | 100.000% | 100.000% | 100.000% | | **UK-9b** | **Redemption price** | 100.000% | 100.000% | 100.000% | 100.000% | 100.000% | | **10** | **Accounting classification** | Liability - amortised cost | Liability - fair value | Liability amortised cost | Liability - amortised cost | Liability - fair value | | **11** | **Original date of issuance** | 04 Jun 2020 | 18 Aug 2020 | 16 Sep 2022 | 16 Nov 2022 | 17 Nov 2011 | | **12** | **Perpetual or dated** | Dated | Dated | Dated | Dated | Dated | | **13** | **Original maturity date** | 04 Jun 2031 | 18 Aug 2031 | 15 Sep 2037 | 16 Nov 2034 | 14 Jan 2042 | | **14** | **Issuer call subject to prior supervisory approval** | Yes | Yes | Yes | Yes | Yes | | **15** | **Optional call date, contingent call dates and redemption amount** | 04 Jun 2030/ Tax event at any time / Par | 18 Aug 2030/ Tax event at any time / Par | 15 Sep 2031 / Tax or Loss absorption disqualification event at any time / Par | 13 Nov 2033/Tax or Capital disqualification event at any time / Par | Tax event at any time / Par | | **16** | **Subsequent call dates, if applicable** | N/A | N/A | N/A | N/A | N/A | | **Coupons/dividends** | | | | | | | | **17** | **Fixed or floating dividend/coupon** | Fixed | Fixed to floating | Fixed to floating | Fixed to floating | Fixed | | **18** | **Coupon rate and any related index** | 3.400% | From 18/08/2030 rate changes from fixed 2.357% to SOFR + 1.947% | From 15/09/2031 rate resets from fixed 2.250% to 3 month Euribor + 1.290% | From 13/11/2033 rate changes from fixed 0.309% to SOFR + 1.290% | 6.100% | | **19** | **Existence of a dividend stopper** | No | No | No | No | No | | **UK-20a** | **Fully discretionary, partially discretionary or mandatory (in terms of timing)** | Mandatory | Mandatory | Mandatory | Mandatory | Mandatory | | **UK-20b** | **Fully discretionary, partially discretionary or mandatory (in terms of amount)** | Mandatory | Mandatory | Mandatory | Mandatory | Mandatory | | **21** | **Existence of step up or other incentive to redeem** | No | No | No | No | No | | **22** | **Non-cumulative or cumulative** | Cumulative | Cumulative | Cumulative | Cumulative | Cumulative | | **23** | **Convertible or non-convertible** | Convertible | Convertible | Convertible | Convertible | Convertible | | **24** | **If convertible, conversion trigger(s)** | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009-UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | | **25** | **If convertible, fully or partially** | May convert fully or partially | May convert fully or partially | May convert fully or partially | May convert fully or partially | May convert fully or partially | | **26** | **If convertible, conversion rate** | To be determined at conversion | To be determined at conversion | To be determined at conversion | To be determined at conversion | To be determined at conversion | | **27** | **If convertible, mandatory or optional conversion** | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | | **28** | **If convertible, specify instrument type convertible into** | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | | **29** | **If convertible, specify issuer of instrument it converts into** | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | | **30** | **Write-down features** | Yes | Yes | Yes | Yes | Yes | | **31** | **If write-down, write-down trigger(s)** | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009-UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | | **32** | **If write-down, full or partial** | May be written down partially | May be written down partially | May be written down partially | May be written down partially | May be written down partially | | **33** | **If write-down, permanent or temporary** | Permanent | Permanent | Permanent | Permanent | Permanent | | **34** | **If temporary write-down, description of write-up mechanism** | Structural | Structural | Structural | Structural | Structural | | **34a** | **Type of subordination (only for eligible liabilities)** | 4 - Senior notes and other pari passu liabilities | 4 - Senior notes and other pari passu liabilities | 4 - Senior notes and other pari passu liabilities | 4 - Senior notes and other pari passu liabilities | 4 - Senior notes and other pari passu liabilities | | **UK-34b** | **Ranking of the instrument in normal insolvency proceedings $^3$** | N/A | N/A | N/A | N/A | N/A | | **35** | **Position in subordination hierarchy in liquidation (specify instrument type immediately senior to instrument)** | N/A | N/A | N/A | N/A | N/A | | **36** | **Non-compliant transitioned features** | No | No | No | No | No | | **37** | **If yes, specify non-compliant features** | N/A | N/A | N/A | N/A | N/A | | **37a** | **Link to the full term and conditions of the intrument (signposting)** | click here | click here | click here | click here | click here | --- ## Only Eligible Liabilities (that count towards MREL requirements) | | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | |---|---|---|---|---|---| | **2a** | **Public or private placement** | Public | Public | Public | Public | Public | | **3** | **Governing law(s) of the instrument** | Laws of the State of New York | Laws of the State of New York | Laws of the State of New York | Laws of the State of New York | Laws of the State of New York | | **3a** | **Contractual recognition of write down and conversion powers of resolution authorities** | Yes | Yes | Yes | Yes | Yes | | **4** | **Regulatory treatment** | | | | | | | | | **Current treatment taking into account, where applicable, transitional CRR rules** | N/A | N/A | N/A | N/A | N/A | | | **Post-transitional CRR rules** | N/A | N/A | N/A | N/A | N/A | | **5** | **Eligible at sola/(sub-) consolidated/ solo&(sub-) consolidated** | N/A | N/A | N/A | N/A | N/A | | **6** | **Instrument type (types to be specified by each jurisdiction)** | Bond | Bond | Bond | Bond | Bond | | **7** | **Amount recognised in regulatory capital or eligible liabilities (Currency in million, as of most recent reporting date)$^2$** | USD 1,999m | USD 2,225m | USD 2,623m | USD 1,982m | USD 1,218m | | **8** | **Nominal amount of instrument** | USD 2,000m | USD 2,250m | USD 2,750m | USD 2,000m | USD 1,254m | | **UK-9a** | **Issue price** | 100.000% | 100.000% | 100.000% | 100.000% | 100.000% | | **UK-9b** | **Redemption price** | 100.000% | 100.000% | 100.000% | 100.000% | 100.000% | | **10** | **Accounting classification** | Liability amortised cost | Liability - fair value | Liability - fair value | Liability - fair value | Liability - fair value | | **11** | **Original date of issuance** | 09 Mar 2023 | 09 Mar 2023 | 09 Mar 2023 | 13 Mar 2017 | 13 Nov 2017 | | **12** | **Perpetual or dated** | Dated | Dated | Dated | Dated | Dated | | **13** | **Original maturity date** | 09 Mar 2029 | 09 Mar 2034 | 09 Mar 2044 | 13 Mar 2028 | 13 Nov 2026 | | **14** | **Issuer call subject to prior supervisory approval** | Yes | Yes | Yes | Yes | Yes | | **15** | **Optional call date, contingent call dates and redemption amount** | 9 Mar 2028 (or 3 Sep 2023 per Make Whole Call) / Tax or Loss absorption disqualification event at any time / Par or Make Whole Amount (as applicable) | 9 Mar 2033 (or 3 Sep 2023 per Make Whole Call) / Tax or Loss absorption disqualification event at any time / Par or Make Whole Amount (as applicable) | 9 Mar 2043 (or 3 Sep 2023 per Make Whole Call) / Tax or Loss absorption disqualification event at any time/Par or Make Whole Amount (as applicable) | 13 Mar 2027 / Tax event at any time / Par | Tax event at any time / Par | | **16** | **Subsequent call dates, if applicable** | N/A or at any time to 9 Mar 2028 per Make Whole Call | N/A or at any time to 9 Mar 2033 per Make Whole Call | N/A or at any time to 9 Mar 2043 per Make Whole Call | N/A | N/A | | **Coupons/dividends** | | | | | | | | **17** | **Fixed or floating dividend/coupon** | Fixed to floating | Fixed to floating | Fixed to floating | Fixed to floating | Fixed to floating | | **18** | **Coupon rate and any related index** | From 09/03/2028 rate changes from fixed 6.161% to SOFR + 1.970% | From 09/03/2033 rate changes from fixed 6.254% to SOFR + 2.390% | From 09/03/2043 rate changes from fixed 6.332% to SOFR + 2.650% | From 13/03/2027 rate changes from fixed 4.041% to 3 month Term SOFR + 0.26161% (tenor adjustment spread) + 1.546% $^7$ | From 13/11/2025 rate changes from fixed 2.256% to 1 year SONIA Mid-Swap rate + 1.317% | | **19** | **Existence of a dividend stopper** | No | No | No | No | No | | **UK-20a** | **Fully discretionary, partially discretionary or mandatory (in terms of timing)** | Mandatory | Mandatory | Mandatory | Mandatory | Mandatory | | **UK-20b** | **Fully discretionary, partially discretionary or mandatory (in terms of amount)** | Mandatory | Mandatory | Mandatory | Mandatory | Mandatory | | **21** | **Existence of step up or other incentive to redeem** | No | No | No | No | No | | **22** | **Non-cumulative or cumulative** | Cumulative | Cumulative | Cumulative | Cumulative | Cumulative | | **23** | **Convertible or non-convertible** | Convertible | Convertible | Convertible | Convertible | Convertible | | **24** | **If convertible, conversion trigger(s)** | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | | **25** | **If convertible, fully or partially** | May convert fully or partially | May convert fully or partially | May convert fully or partially | May convert fully or partially | May convert fully or partially | | **26** | **If convertible, conversion rate** | To be determined at conversion | To be determined at conversion | To be determined at conversion | To be determined at conversion | To be determined at conversion | | **27** | **If convertible, mandatory or optional conversion** | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | | **28** | **If convertible, specify instrument type convertible into** | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | | **29** | **If convertible, specify issuer of instrument it converts into** | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | | **30** | **Write-down features** | Yes | Yes | Yes | Yes | Yes | | **31** | **If write-down, write-down trigger(s)** | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | | **32** | **If write-down, full or partial** | May be written down partially | May be written down partially | May be written down partially | May be written down partially | May be written down partially | | **33** | **If write-down, permanent or temporary** | Permanent | Permanent | Permanent | Permanent | Permanent | | **34** | **If temporary write-down, description of write-up mechanism** | Structural | Structural | Structural | Structural | Structural | | **34a** | **Type of subordination (only for eligible liabilities)** | 4 - Senior notes and other pari passu liabilities | 4 - Senior notes and other pari passu liabilities | 4 - Senior notes and other pari passu liabilities | 4 - Senior notes and other pari passu liabilities | 4 - Senior notes and other pari passu liabilities | | **UK-34b** | **Ranking of the instrument in normal insolvency proceedings $^3$** | N/A | N/A | N/A | N/A | N/A | | **35** | **Position in subordination hierarchy in liquidation (specify instrument type immediately senior to instrument)** | N/A | N/A | N/A | N/A | N/A | | **36** | **Non-compliant transitioned features** | No | No | No | No | No | | **37** | **If yes, specify non-compliant features** | N/A | N/A | N/A | N/A | N/A | | **37a** | **Link to the full term and conditions of the intrument (signposting)** | click here | click here | click here | click here | click here | --- ## Only Eligible Liabilities (that count towards MREL requirements) | | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | |---|---|---|---|---|---| | **2a** | **Public or private placement** | Public | Public | Private | Public | Public | | **3** | **Governing law(s) of the instrument** | Laws of the State of New York | Laws of the State of New York | English law | Laws of the State of New York | Laws of the State of New York | | **3a** | **Contractual recognition of write down and conversion powers of resolution authorities** | Yes | Yes | Yes | Yes | Yes | | **4** | **Regulatory treatment** | | | | | | | | | **Current treatment taking into account, where applicable, transitional CRR rules** | N/A | N/A | N/A | N/A | N/A | | | **Post-transitional CRR rules** | N/A | N/A | N/A | N/A | N/A | | **5** | **Eligible at sola/(sub-) consolidated/ solo&(sub-) consolidated** | N/A | N/A | N/A | N/A | N/A | | **6** | **Instrument type (types to be specified by each jurisdiction)** | Bond | Bond | Bond | Bond | Bond | | **7** | **Amount recognised in regulatory capital or eligible liabilities (Currency in million, as of most recent reporting date)$^2$** | USD 1,740m | USD 269m | USD 191m | USD 194m | USD 85m | | **8** | **Nominal amount of instrument** | USD 1,750m | USD 415m | USD 150m | EUR 186m (USD 193m) | JPY 13,900m (USD 89m) | | **UK-9a** | **Issue price** | 100.000% | 100.000% | 100.000% | 100.000% | 100.000% | | **UK-9b** | **Redemption price** | 100.000% | 104.500% | 100.000% | 100.000% | 100.000% | | **10** | **Accounting classification** | Liability - fair value | Liability - fair value | Liability - amortised cost | Liability - fair value | Liability - fair value | | **11** | **Original date of issuance** | 10 Mar 2022 | 18 Mar 2022 | 16 Mar 2023 | 01 Jun 2022 | 15 Sep 2022 | | **12** | **Perpetual or dated** | Dated | Dated | Dated | Dated | Dated | | **13** | **Original maturity date** | 10 Mar 2026 | 18 Mar 2052 | 16 Mar 2040 | 01 Jun 2026 | 15 Sep 2032 | | **14** | **Issuer call subject to prior supervisory approval** | Yes | Yes | Yes | Yes | Yes | | **15** | **Optional call date, contingent call dates and redemption amount** | 10 Mar 2025 / Tax or Loss absorption disqualification event at any time / Par | 18 Mar 2027 / Tax or Loss absorption disqualification event at any time / Par | 16 Sep 2023 per Make Whole Call / Tax or Loss absorption disqualification event at any time / Make Whole Amount | 1 Jun 2025 / Tax or Loss absorption disqualification event at any time / Par | 15 Sep 2031 / Tax or Loss absorption disqualification event at any time / Par | | **16** | **Subsequent call dates, if applicable** | N/A or at any time to 10 Mar 2025 per Make Whole Call | N/A | N/A | N/A | N/A | | **Coupons/dividends** | | | | | | | | **17** | **Fixed or floating dividend/coupon** | Fixed | Floating | Fixed | Fixed to floating | Fixed to floating | | **18** | **Coupon rate and any related index** | 2.848% | Other coupon type Zero coupon rate with accrual yield of 4.050% | 4.816% | From 01/06/2025 rate changes from fixed 2.099% to SOFR + 1.929% | From 15/09/2031 rate resets from fixed 2.250% to JPY 1-year TONA Tokyo Swap Rate + 1.850% | | **19** | **Existence of a dividend stopper** | No | No | No | No | No | | **UK-20a** | **Fully discretionary, partially discretionary or mandatory (in terms of timing)** | Mandatory | Mandatory | Mandatory | Mandatory | Mandatory | | **UK-20b** | **Fully discretionary, partially discretionary or mandatory (in terms of amount)** | Mandatory | Mandatory | Mandatory | Mandatory | Mandatory | | **21** | **Existence of step up or other incentive to redeem** | No | No | No | No | No | | **22** | **Non-cumulative or cumulative** | Cumulative | Cumulative | Cumulative | Cumulative | Cumulative | | **23** | **Convertible or non-convertible** | Convertible | Convertible | Convertible | Convertible | Convertible | | **24** | **If convertible, conversion trigger(s)** | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Statutory and contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | | **25** | **If convertible, fully or partially** | May convert fully or partially | May convert fully or partially | May convert fully or partially | May convert fully or partially | May convert fully or partially | | **26** | **If convertible, conversion rate** | To be determined at conversion | To be determined at conversion | To be determined at conversion | To be determined at conversion | To be determined at conversion | | **27** | **If convertible, mandatory or optional conversion** | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | | **28** | **If convertible, specify instrument type convertible into** | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | | **29** | **If convertible, specify issuer of instrument it converts into** | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | | **30** | **Write-down features** | Yes | Yes | Yes | Yes | Yes | | **31** | **If write-down, write-down trigger(s)** | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Statutory and contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Statutory and contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | | **32** | **If write-down, full or partial** | May be written down partially | May be written down partially | May be written down partially | May be written down partially | May be written down partially | | **33** | **If write-down, permanent or temporary** | Permanent | Permanent | Permanent | Permanent | Permanent | | **34** | **If temporary write-down, description of write-up mechanism** | Structural | Structural | Structural | Structural | Structural | | **34a** | **Type of subordination (only for eligible liabilities)** | 4 - Senior notes and other pari passu liabilities | 4 - Senior notes and other pari passu liabilities | 4 - Senior notes and other pari passu liabilities | 4 - Senior notes and other pari passu liabilities | 4 - Senior notes and other pari passu liabilities | | **UK-34b** | **Ranking of the instrument in normal insolvency proceedings $^3$** | N/A | N/A | N/A | N/A | N/A | | **35** | **Position in subordination hierarchy in liquidation (specify instrument type immediately senior to instrument)** | N/A | N/A | N/A | N/A | N/A | | **36** | **Non-compliant transitioned features** | No | No | No | No | No | | **37** | **If yes, specify non-compliant features** | N/A | N/A | N/A | N/A | N/A | | **37a** | **Link to the full term and conditions of the intrument (signposting)** | click here | click here | click here | click here | click here | --- ## Only Eligible Liabilities (that count towards MREL requirements) | | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | |---|---|---|---|---|---| | **2a** | **Public or private placement** | Public | Public | Public | Public | Public | | **3** | **Governing law(s) of the instrument** | Laws of the State of New York | Laws of the State of New York | Laws of the State of New York | Laws of the State of New York | Laws of the State of New York | | **3a** | **Contractual recognition of write down and conversion powers of resolution authorities** | Yes | Yes | Yes | Yes | Yes | | **4** | **Regulatory treatment** | | | | | | | | | **Current treatment taking into account, where applicable, transitional CRR rules** | N/A | N/A | N/A | N/A | N/A | | | **Post-transitional CRR rules** | N/A | N/A | N/A | N/A | N/A | | **5** | **Eligible at sola/(sub-) consolidated/ solo&(sub-) consolidated** | N/A | N/A | N/A | N/A | N/A | | **6** | **Instrument type (types to be specified by each jurisdiction)** | Bond | Bond | Bond | Bond | Bond | | **7** | **Amount recognised in regulatory capital or eligible liabilities (Currency in million, as of most recent reporting date)$^2$** | USD 1,490m | USD 1,496m | USD 2,375m | USD 1,982m | USD 1,982m | | **8** | **Nominal amount of instrument** | USD 1,500m | USD 1,500m | USD 2,500m | USD 2,000m | USD 2,000m | | **UK-9a** | **Issue price** | 100.000% | 100.000% | 100.000% | 100.000% | 100.000% | | **UK-9b** | **Redemption price** | 100.000% | 100.000% | 100.000% | 100.000% | 100.000% | | **10** | **Accounting classification** | Liability - fair value | Liability - fair value | Liability - amortised cost | Liability - fair value | Liability - fair value | | **11** | **Original date of issuance** | 12 Sep 2018 | 12 Sep 2018 | 31 Mar 2020 | 04 Jun 2020 | 13 Mar 2017 | | **12** | **Perpetual or dated** | Dated | Dated | Dated | Dated | Dated | | **13** | **Original maturity date** | 12 Sep 2026 | 12 Sep 2026 | 31 Mar 2030 | 04 Jun 2026 | 13 Mar 2028 | | **14** | **Issuer call subject to prior supervisory approval** | Yes | Yes | Yes | Yes | Yes | | **15** | **Optional call date, contingent call dates and redemption amount** | 12 Sep 2025/ Tax event at any time / Par | 12 Sep 2025/ Tax event at any time / Par | 04 Jun 2025/ Tax event at any time / Par | 04 Jun 2025/ Tax event at any time / Par | 13 Mar 2027 / Tax event at any time / Par | | **16** | **Subsequent call dates, if applicable** | N/A | N/A | N/A | N/A | N/A | | **Coupons/dividends** | | | | | | | | **17** | **Fixed or floating dividend/coupon** | Fixed to floating | Fixed to floating | Fixed to floating | Fixed to floating | Fixed to floating | | **18** | **Coupon rate and any related index** | From 12/09/2025 rate changes from fixed 4.292% to 3 month Term SOFR + 0.26161% (tenor adjustment spread) + 1.348% $^7$ | From 12/09/2025 rate resets from floating 3 month Euribor + 1.000% to 3 month Euribor + 0.500% | From 04/06/2025 rate changes from fixed 2.099% to SOFR + 1.929% | From 04/06/2025 rate changes from fixed 2.099% to SOFR + 1.929% | From 13/03/2027 rate changes from fixed 4.041% to 3 month Term SOFR + 0.26161% (tenor adjustment spread) + 1.546% $^7$ | | **19** | **Existence of a dividend stopper** | No | No | No | No | No | | **UK-20a** | **Fully discretionary, partially discretionary or mandatory (in terms of timing)** | Mandatory | Mandatory | Mandatory | Mandatory | Mandatory | | **UK-20b** | **Fully discretionary, partially discretionary or mandatory (in terms of amount)** | Mandatory | Mandatory | Mandatory | Mandatory | Mandatory | | **21** | **Existence of step up or other incentive to redeem** | No | No | No | No | No | | **22** | **Non-cumulative or cumulative** | Cumulative | Cumulative | Cumulative | Cumulative | Cumulative | | **23** | **Convertible or non-convertible** | Convertible | Convertible | Convertible | Convertible | Convertible | | **24** | **If convertible, conversion trigger(s)** | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | | **25** | **If convertible, fully or partially** | May convert fully or partially | May convert fully or partially | May convert fully or partially | May convert fully or partially | May convert fully or partially | | **26** | **If convertible, conversion rate** | To be determined at conversion | To be determined at conversion | To be determined at conversion | To be determined at conversion | To be determined at conversion | | **27** | **If convertible, mandatory or optional conversion** | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | | **28** | **If convertible, specify instrument type convertible into** | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | | **29** | **If convertible, specify issuer of instrument it converts into** | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | | **30** | **Write-down features** | Yes | Yes | Yes | Yes | Yes | | **31** | **If write-down, write-down trigger(s)** | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | | **32** | **If write-down, full or partial** | May be written down partially | May be written down partially | May be written down partially | May be written down partially | May be written down partially | | **33** | **If write-down, permanent or temporary** | Permanent | Permanent | Permanent | Permanent | Permanent | | **34** | **If temporary write-down, description of write-up mechanism** | Structural | Structural | Structural | Structural | Structural | | **34a** | **Type of subordination (only for eligible liabilities)** | 4 - Senior notes and other pari passu liabilities | 4 - Senior notes and other pari passu liabilities | 4 - Senior notes and other pari passu liabilities | 4 - Senior notes and other pari passu liabilities | 4 - Senior notes and other pari passu liabilities | | **UK-34b** | **Ranking of the instrument in normal insolvency proceedings $^3$** | N/A | N/A | N/A | N/A | N/A | | **35** | **Position in subordination hierarchy in liquidation (specify instrument type immediately senior to instrument)** | N/A | N/A | N/A | N/A | N/A | | **36** | **Non-compliant transitioned features** | No | No | No | No | No | | **37** | **If yes, specify non-compliant features** | N/A | N/A | N/A | N/A | N/A | | **37a** | **Link to the full term and conditions of the intrument (signposting)** | click here | click here | click here | click here | click here | --- ## Only Eligible Liabilities (that count towards MREL requirements) | | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | |---|---|---|---|---|---| | **2a** | **Public or private placement** | Public | Public | Public | Public | Public | | **3** | **Governing law(s) of the instrument** | Laws of the State of New York | Laws of the State of New York | Laws of the State of New York | Laws of the State of New York | Laws of the State of New York | | **3a** | **Contractual recognition of write down and conversion powers of resolution authorities** | Yes | Yes | Yes | Yes | Yes | | **4** | **Regulatory treatment** | | | | | | | | | **Current treatment taking into account, where applicable, transitional CRR rules** | N/A | N/A | N/A | N/A | N/A | | | **Post-transitional CRR rules** | N/A | N/A | N/A | N/A | N/A | | **5** | **Eligible at sola/(sub-) consolidated/ solo&(sub-) consolidated** | N/A | N/A | N/A | N/A | N/A | | **6** | **Instrument type (types to be specified by each jurisdiction)** | Bond | Bond | Bond | Bond | Bond | | **7** | **Amount recognised in regulatory capital or eligible liabilities (Currency in million, as of most recent reporting date)$^2$** | USD 1,405m | USD 1,991m | USD 1,334m | USD 1,932m | USD 1,932m | | **8** | **Nominal amount of instrument** | USD 1,500m | USD 2,000m | EUR 1,250m (USD 1,297m) | USD 2,000m | USD 2,000m | | **UK-9a** | **Issue price** | 100.000% | 100.000% | 100.000% | 100.000% | 100.000% | | **UK-9b** | **Redemption price** | 100.000% | 100.000% | 100.000% | 100.000% | 100.000% | | **10** | **Accounting classification** | Liability - amortised cost | Liability - fair value | Liability amortised cost | Liability - amortised cost | Liability - amortised cost | | **11** | **Original date of issuance** | 04 Jun 2020 | 18 Aug 2020 | 16 Sep 2022 | 16 Nov 2022 | 09 Mar 2023 | | **12** | **Perpetual or dated** | Dated | Dated | Dated | Dated | Dated | | **13** | **Original maturity date** | 04 Jun 2031 | 18 Aug 2031 | 15 Sep 2032 | 16 Nov 2034 | 09 Mar 2029 | | **14** | **Issuer call subject to prior supervisory approval** | Yes | Yes | Yes | Yes | Yes | | **15** | **Optional call date, contingent call dates and redemption amount** | 04 Jun 2030/ Tax event at any time / Par | 18 Aug 2030/ Tax event at any time / Par | 15 Sep 2027/Tax or Capital disqualification event at any time / Par | 13 Nov 2025/ Tax or Loss absorption disqualification event at any time / Par | 9 Mar 2028 (or 3 Sep 2023 per Make Whole Call) / Tax or Loss absorption disqualification event at any time / Par or Make Whole Amount (as applicable) | | **16** | **Subsequent call dates, if applicable** | N/A | N/A | N/A | N/A | N/A | | **Coupons/dividends** | | | | | | | | **17** | **Fixed or floating dividend/coupon** | Fixed | Fixed to floating | Fixed to floating | Fixed to floating | Fixed to floating | | **18** | **Coupon rate and any related index** | 2.848% | From 18/08/2030 rate changes from fixed 2.357% to SOFR + 1.947% | From 15/09/2027 rate resets from fixed 1.958% to JPY 1-year TONA Tokyo Swap Rate + 1.750% | From 13/11/2025 rate changes from fixed 0.309% to SOFR + 1.290% | From 09/03/2028 rate changes from fixed 6.161% to SOFR + 1.970% | | **19** | **Existence of a dividend stopper** | No | No | No | No | No | | **UK-20a** | **Fully discretionary, partially discretionary or mandatory (in terms of timing)** | Mandatory | Mandatory | Mandatory | Mandatory | Mandatory | | **UK-20b** | **Fully discretionary, partially discretionary or mandatory (in terms of amount)** | Mandatory | Mandatory | Mandatory | Mandatory | Mandatory | | **21** | **Existence of step up or other incentive to redeem** | No | No | No | No | No | | **22** | **Non-cumulative or cumulative** | Cumulative | Cumulative | Cumulative | Cumulative | Cumulative | | **23** | **Convertible or non-convertible** | Convertible | Convertible | Convertible | Convertible | Convertible | | **24** | **If convertible, conversion trigger(s)** | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Statutory and contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009-UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | | **25** | **If convertible, fully or partially** | May convert fully or partially | May convert fully or partially | May convert fully or partially | May convert fully or partially | May convert fully or partially | | **26** | **If convertible, conversion rate** | To be determined at conversion | To be determined at conversion | To be determined at conversion | To be determined at conversion | To be determined at conversion | | **27** | **If convertible, mandatory or optional conversion** | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | | **28** | **If convertible, specify instrument type convertible into** | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | | **29** | **If convertible, specify issuer of instrument it converts into** | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | | **30** | **Write-down features** | Yes | Yes | Yes | Yes | Yes | | **31** | **If write-down, write-down trigger(s)** | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Statutory and contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009-UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | | **32** | **If write-down, full or partial** | May be written down partially | May be written down partially | May be written down partially | May be written down partially | May be written down partially | | **33** | **If write-down, permanent or temporary** | Permanent | Permanent | Permanent | Permanent | Permanent | | **34** | **If temporary write-down, description of write-up mechanism** | Structural | Structural | Structural | Structural | Structural | | **34a** | **Type of subordination (only for eligible liabilities)** | 4 - Senior notes and other pari passu liabilities | 4 - Senior notes and other pari passu liabilities | 4 - Senior notes and other pari passu liabilities | 4 - Senior notes and other pari passu liabilities | 4 - Senior notes and other pari passu liabilities | | **UK-34b** | **Ranking of the instrument in normal insolvency proceedings $^3$** | N/A | N/A | N/A | N/A | N/A | | **35** | **Position in subordination hierarchy in liquidation (specify instrument type immediately senior to instrument)** | N/A | N/A | N/A | N/A | N/A | | **36** | **Non-compliant transitioned features** | No | No | No | No | No | | **37** | **If yes, specify non-compliant features** | N/A | N/A | N/A | N/A | N/A | | **37a** | **Link to the full term and conditions of the intrument (signposting)** | click here | click here | click here | click here | click here | --- ## Only Eligible Liabilities (that count towards MREL requirements) | | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | |---|---|---|---|---|---| | **2a** | **Public or private placement** | Public | Public | Public | Public | Public | | **3** | **Governing law(s) of the instrument** | Laws of the State of New York | Laws of the State of New York | Laws of the State of New York | Laws of the State of New York | Laws of the State of New York | | **3a** | **Contractual recognition of write down and conversion powers of resolution authorities** | Yes | Yes | Yes | Yes | Yes | | **4** | **Regulatory treatment** | | | | | | | | | **Current treatment taking into account, where applicable, transitional CRR rules** | N/A | N/A | N/A | N/A | N/A | | | **Post-transitional CRR rules** | N/A | N/A | N/A | N/A | N/A | | **5** | **Eligible at sola/(sub-) consolidated/ solo&(sub-) consolidated** | N/A | N/A | N/A | N/A | N/A | | **6** | **Instrument type (types to be specified by each jurisdiction)** | Bond | Bond | Bond | Bond | Bond | | **7** | **Amount recognised in regulatory capital or eligible liabilities (Currency in million, as of most recent reporting date)$^2$** | USD 1,405m | USD 1,991m | USD 1,334m | USD 1,932m | USD 1,932m | | **8** | **Nominal amount of instrument** | USD 1,500m | USD 2,000m | EUR 1,250m (USD 1,297m) | USD 2,000m | USD 2,000m | | **UK-9a** | **Issue price** | 100.000% | 100.000% | 100.000% | 100.000% | 100.000% | | **UK-9b** | **Redemption price** | 100.000% | 100.000% | 100.000% | 100.000% | 100.000% | | **10** | **Accounting classification** | Liability - amortised cost | Liability - fair value | Liability amortised cost | Liability - amortised cost | Liability - amortised cost | | **11** | **Original date of issuance** | 04 Jun 2020 | 18 Aug 2020 | 16 Sep 2022 | 16 Nov 2022 | 09 Mar 2023 | | **12** | **Perpetual or dated** | Dated | Dated | Dated | Dated | Dated | | **13** | **Original maturity date** | 04 Jun 2031 | 18 Aug 2031 | 15 Sep 2032 | 16 Nov 2034 | 09 Mar 2029 | | **14** | **Issuer call subject to prior supervisory approval** | Yes | Yes | Yes | Yes | Yes | | **15** | **Optional call date, contingent call dates and redemption amount** | 04 Jun 2030/ Tax event at any time / Par | 18 Aug 2030/ Tax event at any time / Par | 15 Sep 2027/Tax or Capital disqualification event at any time / Par | 13 Nov 2025/ Tax or Loss absorption disqualification event at any time / Par | 9 Mar 2028 (or 3 Sep 2023 per Make Whole Call) / Tax or Loss absorption disqualification event at any time / Par or Make Whole Amount (as applicable) | | **16** | **Subsequent call dates, if applicable** | N/A | N/A | N/A | N/A | N/A | | **Coupons/dividends** | | | | | | | | **17** | **Fixed or floating dividend/coupon** | Fixed | Fixed to floating | Fixed to floating | Fixed to floating | Fixed to floating | | **18** | **Coupon rate and any related index** | 2.848% | From 18/08/2030 rate changes from fixed 2.357% to SOFR + 1.947% | From 15/09/2027 rate resets from fixed 1.958% to JPY 1-year TONA Tokyo Swap Rate + 1.750% | From 13/11/2025 rate changes from fixed 0.309% to SOFR + 1.290% | From 09/03/2028 rate changes from fixed 6.161% to SOFR + 1.970% | | **19** | **Existence of a dividend stopper** | No | No | No | No | No | | **UK-20a** | **Fully discretionary, partially discretionary or mandatory (in terms of timing)** | Mandatory | Mandatory | Mandatory | Mandatory | Mandatory | | **UK-20b** | **Fully discretionary, partially discretionary or mandatory (in terms of amount)** | Mandatory | Mandatory | Mandatory | Mandatory | Mandatory | | **21** | **Existence of step up or other incentive to redeem** | No | No | No | No | No | | **22** | **Non-cumulative or cumulative** | Cumulative | Cumulative | Cumulative | Cumulative | Cumulative | | **23** | **Convertible or non-convertible** | Convertible | Convertible | Convertible | Convertible | Convertible | | **24** | **If convertible, conversion trigger(s)** | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Statutory and contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009-UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | | **25** | **If convertible, fully or partially** | May convert fully or partially | May convert fully or partially | May convert fully or partially | May convert fully or partially | May convert fully or partially | | **26** | **If convertible, conversion rate** | To be determined at conversion | To be determined at conversion | To be determined at conversion | To be determined at conversion | To be determined at conversion | | **27** | **If convertible, mandatory or optional conversion** | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | | **28** | **If convertible, specify instrument type convertible into** | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | | **29** | **If convertible, specify issuer of instrument it converts into** | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | | **30** | **Write-down features** | Yes | Yes | Yes | Yes | Yes | | **31** | **If write-down, write-down trigger(s)** | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Statutory and contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009-UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | | **32** | **If write-down, full or partial** | May be written down partially | May be written down partially | May be written down partially | May be written down partially | May be written down partially | | **33** | **If write-down, permanent or temporary** | Permanent | Permanent | Permanent | Permanent | Permanent | | **34** | **If temporary write-down, description of write-up mechanism** | Structural | Structural | Structural | Structural | Structural | | **34a** | **Type of subordination (only for eligible liabilities)** | 4 - Senior notes and other pari passu liabilities | 4 - Senior notes and other pari passu liabilities | 4 - Senior notes and other pari passu liabilities | 4 - Senior notes and other pari passu liabilities | 4 - Senior notes and other pari passu liabilities | | **UK-34b** | **Ranking of the instrument in normal insolvency proceedings $^3$** | N/A | N/A | N/A | N/A | N/A | | **35** | **Position in subordination hierarchy in liquidation (specify instrument type immediately senior to instrument)** | N/A | N/A | N/A | N/A | N/A | | **36** | **Non-compliant transitioned features** | No | No | No | No | No | | **37** | **If yes, specify non-compliant features** | N/A | N/A | N/A | N/A | N/A | | **37a** | **Link to the full term and conditions of the intrument (signposting)** | click here | click here | click here | click here | click here | --- ## Only Eligible Liabilities (that count towards MREL requirements) | | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | |---|---|---|---|---|---| | **2a** | **Public or private placement** | Public | Public | Public | Public | Public | | **3** | **Governing law(s) of the instrument** | Laws of the State of New York | Laws of the State of New York | Laws of the State of New York | Laws of the State of New York | Laws of the State of New York | | **3a** | **Contractual recognition of write down and conversion powers of resolution authorities** | Yes | Yes | Yes | Yes | Yes | | **4** | **Regulatory treatment** | | | | | | | | | **Current treatment taking into account, where applicable, transitional CRR rules** | N/A | N/A | N/A | N/A | N/A | | | **Post-transitional CRR rules** | N/A | N/A | N/A | N/A | N/A | | **5** | **Eligible at sola/(sub-) consolidated/ solo&(sub-) consolidated** | N/A | N/A | N/A | N/A | N/A | | **6** | **Instrument type (types to be specified by each jurisdiction)** | Bond | Bond | Bond | Bond | Bond | | **7** | **Amount recognised in regulatory capital or eligible liabilities (Currency in million, as of most recent reporting date)$^2$** | USD 1,551m | USD 499m | USD 1,495m | USD 2,234m | USD 1,229m | | **8** | **Nominal amount of instrument** | EUR 1,500m (USD 1,556m) | USD 500m | USD 1,500m | USD 2,250m | USD 1,250m | | **UK-9a** | **Issue price** | 100.000% | 100.000% | 100.000% | 100.000% | 100.000% | | **UK-9b** | **Redemption price** | 100.000% | 100.000% | 100.000% | 100.000% | 100.000% | | **10** | **Accounting classification** | Liability - amortised cost | Liability amortised cost | Liability - amortised cost | Liability - fair value | Liability - amortised cost | | **11** | **Original date of issuance** | 25 Sep 2024 | 19 Nov 2024 | 19 Nov 2024 | 19 Nov 2024 | 04 Mar 2024 | | **12** | **Perpetual or dated** | Dated | Dated | Dated | Dated | Dated | | **13** | **Original maturity date** | 25 Sep 2035 | 19 Nov 2028 | 19 Nov 2029 | 19 Nov 2030 | 04 Mar 2035 | | **14** | **Issuer call subject to prior supervisory approval** | Yes | Yes | Yes | Yes | Yes | | **15** | **Optional call date, contingent call dates and redemption amount** | 25 Sep 2034 (or 25 Mar 2025 per Make Whole Call)/ Tax or Loss absorption disqualification event at any time / Par or Make Whole Amount (as applicable) | 19 Nov 2027 (or 19 May 2025 per Make Whole Call) / Tax or Loss absorption disqualification event at any time / Par or Make Whole Amount (as applicable) | 19 Nov 2029 (or 19 May 2025 per Make Whole Call) / Tax or Loss absorption disqualification event at any time / Par or Make Whole Amount (as applicable) | 19 Nov 2027 / Tax or Loss absorption disqualification event at any time / Par | 04 Mar 2029 / Tax or Loss absorption disqualification event at any time / Par | | **16** | **Subsequent call dates, if applicable** | N/A or at any time to 25 Sep 2034 per Make Whole Call | N/A or at any time to 19 Nov 2027 per Make Whole Call | N/A or at any time to 19 Nov 2029 per Make Whole Call | N/A | N/A | | **Coupons/dividends** | | | | | | | | **17** | **Fixed or floating dividend/coupon** | Fixed to Floating | Fixed to floating | Fixed to floating | Floating | Fixed to floating | | **18** | **Coupon rate and any related index** | From 25/09/2034 rate changes from fixed 3.834% to 3 month Euribor + 1.458% | From 19/11/2027 rate changes from fixed 5.130% to SOFR + 1.040% | From 19/11/2029 rate changes from fixed 5.286% to SOFR + 1.290% | From 04/03/2029 rate changes from fixed 5.546% to SOFR + 1.460% | From 04/03/2034 rate changes from fixed 5.719% to SOFR + 1.780% | | **19** | **Existence of a dividend stopper** | No | No | No | No | No | | **UK-20a** | **Fully discretionary, partially discretionary or mandatory (in terms of timing)** | Mandatory | Mandatory | Mandatory | Mandatory | Mandatory | | **UK-20b** | **Fully discretionary, partially discretionary or mandatory (in terms of amount)** | Mandatory | Mandatory | Mandatory | Mandatory | Mandatory | | **21** | **Existence of step up or other incentive to redeem** | No | No | No | No | No | | **22** | **Non-cumulative or cumulative** | Cumulative | Cumulative | Cumulative | Cumulative | Cumulative | | **23** | **Convertible or non-convertible** | Convertible | Convertible | Convertible | Convertible | Convertible | | **24** | **If convertible, conversion trigger(s)** | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Statutory and contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | | **25** | **If convertible, fully or partially** | May convert fully or partially | May convert fully or partially | May convert fully or partially | May convert fully or partially | May convert fully or partially | | **26** | **If convertible, conversion rate** | To be determined at conversion | To be determined at conversion | To be determined at conversion | To be determined at conversion | To be determined at conversion | | **27** | **If convertible, mandatory or optional conversion** | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | | **28** | **If convertible, specify instrument type convertible into** | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | | **29** | **If convertible, specify issuer of instrument it converts into** | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | | **30** | **Write-down features** | Yes | Yes | Yes | Yes | Yes | | **31** | **If write-down, write-down trigger(s)** | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Statutory and contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | | **32** | **If write-down, full or partial** | May be written down partially | May be written down partially | May be written down partially | May be written down partially | May be written down partially | | **33** | **If write-down, permanent or temporary** | Permanent | Permanent | Permanent | Permanent | Permanent | | **34** | **If temporary write-down, description of write-up mechanism** | Structural | Structural | Structural | Structural | Structural | | **34a** | **Type of subordination (only for eligible liabilities)** | 4 - Senior notes and other pari passu liabilities | 4 - Senior notes and other pari passu liabilities | 4 - Senior notes and other pari passu liabilities | 4 - Senior notes and other pari passu liabilities | 4 - Senior notes and other pari passu liabilities | | **UK-34b** | **Ranking of the instrument in normal insolvency proceedings $^3$** | N/A | N/A | N/A | N/A | N/A | | **35** | **Position in subordination hierarchy in liquidation (specify instrument type immediately senior to instrument)** | N/A | N/A | N/A | N/A | N/A | | **36** | **Non-compliant transitioned features** | No | No | No | No | No | | **37** | **If yes, specify non-compliant features** | N/A | N/A | N/A | N/A | N/A | | **37a** | **Link to the full term and conditions of the intrument (signposting)** | click here | click here | click here | click here | click here | --- ## Only Eligible Liabilities (that count towards MREL requirements) | | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | |---|---|---|---|---|---| | **2a** | **Public or private placement** | Public | Public | Public | Public | Public | | **3** | **Governing law(s) of the instrument** | Laws of the State of New York | Laws of the State of New York | Laws of the State of New York | Laws of the State of New York | Laws of the State of New York | | **3a** | **Contractual recognition of write down and conversion powers of resolution authorities** | Yes | Yes | Yes | Yes | Yes | | **4** | **Regulatory treatment** | | | | | | | | | **Current treatment taking into account, where applicable, transitional CRR rules** | N/A | N/A | N/A | N/A | N/A | | | **Post-transitional CRR rules** | N/A | N/A | N/A | N/A | N/A | | **5** | **Eligible at sola/(sub-) consolidated/ solo&(sub-) consolidated** | N/A | N/A | N/A | N/A | N/A | | **6** | **Instrument type (types to be specified by each jurisdiction)** | Bond | Bond | Bond | Bond | Bond | | **7** | **Amount recognised in regulatory capital or eligible liabilities (Currency in million, as of most recent reporting date)$^2$** | USD 1,551m | USD 499m | USD 1,495m | USD 2,234m | USD 2,308m | | **8** | **Nominal amount of instrument** | EUR 1,500m (USD 1,556m) | USD 500m | USD 1,500m | USD 2,250m | USD 2,300m | | **UK-9a** | **Issue price** | 100.000% | 100.000% | 100.000% | 100.000% | 100.000% | | **UK-9b** | **Redemption price** | 100.000% | 100.000% | 100.000% | 100.000% | 100.000% | | **10** | **Accounting classification** | Liability - amortised cost | Liability - amortised cost | Liability - amortised cost | Liability - fair value | Liability - fair value | | **11** | **Original date of issuance** | 25 Sep 2024 | 19 Nov 2024 | 19 Nov 2024 | 19 Nov 2024 | 14 Aug 2023 | | **12** | **Perpetual or dated** | Dated | Dated | Dated | Dated | Dated | | **13** | **Original maturity date** | 25 Sep 2035 | 19 Nov 2028 | 19 Nov 2029 | 19 Nov 2030 | 14 Aug 2027 | | **14** | **Issuer call subject to prior supervisory approval** | Yes | Yes | Yes | Yes | Yes | | **15** | **Optional call date, contingent call dates and redemption amount** | 25 Sep 2034 (or 25 Mar 2025 per Make Whole Call)/ Tax or Loss absorption disqualification event at any time / Par or Make Whole Amount (as applicable) | 19 Nov 2027 (or 19 May 2025 per Make Whole Call) / Tax or Loss absorption disqualification event at any time / Par or Make Whole Amount (as applicable) | 19 Nov 2029 (or 19 May 2025 per Make Whole Call) / Tax or Loss absorption disqualification event at any time / Par or Make Whole Amount (as applicable) | 19 Nov 2027 / Tax or Loss absorption disqualification event at any time / Par | 14 Aug 2026 (or 14 Feb 2024 per Make Whole Call) / Tax or Loss absorption disqualification event at any time / Par or Make Whole Amount (as applicable) | | **16** | **Subsequent call dates, if applicable** | N/A or at any time to 25 Sep 2034 per Make Whole Call | N/A or at any time to 19 Nov 2027 per Make Whole Call | N/A or at any time to 19 Nov 2029 per Make Whole Call | N/A | N/A | | **Coupons/dividends** | | | | | | | | **17** | **Fixed or floating dividend/coupon** | Fixed to Floating | Fixed to floating | Fixed to floating | Fixed to floating | Fixed to floating | | **18** | **Coupon rate and any related index** | From 25/09/2034 rate changes from fixed 3.834% to 3 month Euribor + 1.458% | From 19/11/2027 rate changes from fixed 5.130% to SOFR + 1.040% | From 19/11/2029 rate changes from fixed 5.286% to SOFR + 1.290% | From 04/03/2029 rate changes from fixed 5.546% to SOFR + 1.460% | From 04/03/2034 rate changes from fixed 5.719% to SOFR + 1.780% | | **19** | **Existence of a dividend stopper** | No | No | No | No | No | | **UK-20a** | **Fully discretionary, partially discretionary or mandatory (in terms of timing)** | Mandatory | Mandatory | Mandatory | Mandatory | Mandatory | | **UK-20b** | **Fully discretionary, partially discretionary or mandatory (in terms of amount)** | Mandatory | Mandatory | Mandatory | Mandatory | Mandatory | | **21** | **Existence of step up or other incentive to redeem** | No | No | No | No | No | | **22** | **Non-cumulative or cumulative** | Cumulative | Cumulative | Cumulative | Cumulative | Cumulative | | **23** | **Convertible or non-convertible** | Convertible | Convertible | Convertible | Convertible | Convertible | | **24** | **If convertible, conversion trigger(s)** | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Statutory and contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | | **25** | **If convertible, fully or partially** | May convert fully or partially | May convert fully or partially | May convert fully or partially | May convert fully or partially | May convert fully or partially | | **26** | **If convertible, conversion rate** | To be determined at conversion | To be determined at conversion | To be determined at conversion | To be determined at conversion | To be determined at conversion | | **27** | **If convertible, mandatory or optional conversion** | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | | **28** | **If convertible, specify instrument type convertible into** | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | | **29** | **If convertible, specify issuer of instrument it converts into** | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | | **30** | **Write-down features** | Yes | Yes | Yes | Yes | Yes | | **31** | **If write-down, write-down trigger(s)** | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Statutory and contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | | **32** | **If write-down, full or partial** | May be written down partially | May be written down partially | May be written down partially | May be written down partially | May be written down partially | | **33** | **If write-down, permanent or temporary** | Permanent | Permanent | Permanent | Permanent | Permanent | | **34** | **If temporary write-down, description of write-up mechanism** | Structural | Structural | Structural | Structural | Structural | | **34a** | **Type of subordination (only for eligible liabilities)** | 4 - Senior notes and other pari passu liabilities | 4 - Senior notes and other pari passu liabilities | 4 - Senior notes and other pari passu liabilities | 4 - Senior notes and other pari passu liabilities | 4 - Senior notes and other pari passu liabilities | | **UK-34b** | **Ranking of the instrument in normal insolvency proceedings $^3$** | N/A | N/A | N/A | N/A | N/A | | **35** | **Position in subordination hierarchy in liquidation (specify instrument type immediately senior to instrument)** | N/A | N/A | N/A | N/A | N/A | | **36** | **Non-compliant transitioned features** | No | No | No | No | No | | **37** | **If yes, specify non-compliant features** | N/A | N/A | N/A | N/A | N/A | | **37a** | **Link to the full term and conditions of the intrument (signposting)** | click here | click here | click here | click here | click here | --- ## Only Eligible Liabilities (that count towards MREL requirements) | | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | |---|---|---|---|---|---| | **2a** | **Public or private placement** | Public | Public | Public | Public | Public | | **3** | **Governing law(s) of the instrument** | Laws of the State of New York | Laws of the State of New York | Laws of the State of New York | Laws of the State of New York | Laws of the State of New York | | **3a** | **Contractual recognition of write down and conversion powers of resolution authorities** | Yes | Yes | Yes | Yes | Yes | | **4** | **Regulatory treatment** | | | | | | | | | **Current treatment taking into account, where applicable, transitional CRR rules** | N/A | N/A | N/A | N/A | N/A | | | **Post-transitional CRR rules** | N/A | N/A | N/A | N/A | N/A | | **5** | **Eligible at sola/(sub-) consolidated/ solo&(sub-) consolidated** | N/A | N/A | N/A | N/A | N/A | | **6** | **Instrument type (types to be specified by each jurisdiction)** | Bond | Bond | Bond | Bond | Bond | | **7** | **Amount recognised in regulatory capital or eligible liabilities (Currency in million, as of most recent reporting date)$^2$** | USD 1,913m | USD 835m | USD 1,490m | USD 2,375m | USD 1,218m | | **8** | **Nominal amount of instrument** | USD 2,000m | GBP 750m (USD 941m) | EUR 1,500m (USD 1,556m) | USD 2,500m | GBP 1,000m (USD 1,254m) | | **UK-9a** | **Issue price** | 100.000% | 100.000% | 100.000% | 100.000% | 100.000% | | **UK-9b** | **Redemption price** | 100.000% | 100.000% | 100.000% | 100.000% | 100.000% | | **10** | **Accounting classification** | Liability - fair value | Liability - fair value | Liability - amortised cost | Liability - fair value | Liability - fair value | | **11** | **Original date of issuance** | 22 Nov 2021 | 22 Nov 2021 | 29 Sep 2023 | 04 Mar 2024 | 13 Nov 2017 | | **12** | **Perpetual or dated** | Dated | Dated | Dated | Dated | Dated | | **13** | **Original maturity date** | 22 Nov 2027 | 22 Nov 2032 | 29 Sep 2043 | 04 Mar 2035 | 13 Nov 2026 | | **14** | **Issuer call subject to prior supervisory approval** | Yes | Yes | Yes | Yes | Yes | | **15** | **Optional call date, contingent call dates and redemption amount** | 22 Nov 2026 (or 22 May 2022 per Make Whole Call) / Tax or Loss absorption disqualification event at any time / Par or Make Whole Amount (as applicable) | 22 Nov 2031 (or 22 May 2022 per Make Whole Call) / Tax or Loss absorption disqualification event at any time / Par or Make Whole Amount (as applicable) | 29 Sep 2033/ Tax or Loss absorption disqualification event at any time / Par | 04 Mar 2029 / Tax or Loss absorption disqualification event at any time / Par | 13 Nov 2025 / Tax or Loss absorption disqualification event at any time / Par | | **16** | **Subsequent call dates, if applicable** | N/A or at any time to 22 Nov 2026 per Make Whole Call | N/A or at any time to 22 Nov 2031 per Make Whole Call | N/A | N/A | N/A | | **Coupons/dividends** | | | | | | | | **17** | **Fixed or floating dividend/coupon** | Fixed to Floating | Fixed to floating | Fixed to floating | Fixed to floating | Fixed | | **18** | **Coupon rate and any related index** | From 22/11/2026 rate changes from fixed 2.251% to SOFR + 1.100% | From 22/11/2031 rate changes from fixed 2.871% to SOFR + 1.410% | From 29/09/2033 rate changes from fixed 0.641% to 3 month Euribor + 0.838% | From 04/03/2029 rate changes from fixed 5.546% to SOFR + 1.460% | 4.000% | | **19** | **Existence of a dividend stopper** | No | No | No | No | No | | **UK-20a** | **Fully discretionary, partially discretionary or mandatory (in terms of timing)** | Mandatory | Mandatory | Mandatory | Mandatory | Mandatory | | **UK-20b** | **Fully discretionary, partially discretionary or mandatory (in terms of amount)** | Mandatory | Mandatory | Mandatory | Mandatory | Mandatory | | **21** | **Existence of step up or other incentive to redeem** | No | No | No | No | No | | **22** | **Non-cumulative or cumulative** | Cumulative | Cumulative | Cumulative | Cumulative | Cumulative | | **23** | **Convertible or non-convertible** | Convertible | Convertible | Convertible | Convertible | Convertible | | **24** | **If convertible, conversion trigger(s)** | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | | **25** | **If convertible, fully or partially** | May convert fully or partially | May convert fully or partially | May convert fully or partially | May convert fully or partially | May convert fully or partially | | **26** | **If convertible, conversion rate** | To be determined at conversion | To be determined at conversion | To be determined at conversion | To be determined at conversion | To be determined at conversion | | **27** | **If convertible, mandatory or optional conversion** | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | | **28** | **If convertible, specify instrument type convertible into** | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | | **29** | **If convertible, specify issuer of instrument it converts into** | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | | **30** | **Write-down features** | Yes | Yes | Yes | Yes | Yes | | **31** | **If write-down, write-down trigger(s)** | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | | **32** | **If write-down, full or partial** | May be written down partially | May be written down partially | May be written down partially | May be written down partially | May be written down partially | | **33** | **If write-down, permanent or temporary** | Permanent | Permanent | Permanent | Permanent | Permanent | | **34** | **If temporary write-down, description of write-up mechanism** | Structural | Structural | Structural | Structural | Structural | | **34a** | **Type of subordination (only for eligible liabilities)** | 4 - Senior notes and other pari passu liabilities | 4 - Senior notes and other pari passu liabilities | 4 - Senior notes and other pari passu liabilities | 4 - Senior notes and other pari passu liabilities | 4 - Senior notes and other pari passu liabilities | | **UK-34b** | **Ranking of the instrument in normal insolvency proceedings $^3$** | N/A | N/A | N/A | N/A | N/A | | **35** | **Position in subordination hierarchy in liquidation (specify instrument type immediately senior to instrument)** | N/A | N/A | N/A | N/A | N/A | | **36** | **Non-compliant transitioned features** | No | No | No | No | No | | **37** | **If yes, specify non-compliant features** | N/A | N/A | N/A | N/A | N/A | | **37a** | **Link to the full term and conditions of the intrument (signposting)** | click here | click here | click here | click here | click here | --- ## Only Eligible Liabilities (that count towards MREL requirements) | | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | |---|---|---|---|---|---| | **2a** | **Public or private placement** | Public | Public | Public | Public | Public | | **3** | **Governing law(s) of the instrument** | Laws of the State of New York | Laws of the State of New York | Laws of the State of New York | Laws of the State of New York | Laws of the State of New York | | **3a** | **Contractual recognition of write down and conversion powers of resolution authorities** | Yes | Yes | Yes | Yes | Yes | | **4** | **Regulatory treatment** | | | | | | | | | **Current treatment taking into account, where applicable, transitional CRR rules** | N/A | N/A | N/A | N/A | N/A | | | **Post-transitional CRR rules** | N/A | N/A | N/A | N/A | N/A | | **5** | **Eligible at sola/(sub-) consolidated/ solo&(sub-) consolidated** | N/A | N/A | N/A | N/A | N/A | | **6** | **Instrument type (types to be specified by each jurisdiction)** | Bond | Bond | Bond | Bond | Bond | | **7** | **Amount recognised in regulatory capital or eligible liabilities (Currency in million, as of most recent reporting date)$^2$** | USD 1,405m | USD 1,991m | USD 1,334m | USD 1,932m | USD 1,932m | | **8** | **Nominal amount of instrument** | USD 1,500m | USD 2,000m | EUR 1,250m (USD 1,297m) | USD 2,000m | USD 2,000m | | **UK-9a** | **Issue price** | 100.000% | 100.000% | 100.000% | 100.000% | 100.000% | | **UK-9b** | **Redemption price** | 100.000% | 100.000% | 100.000% | 100.000% | 100.000% | | **10** | **Accounting classification** | Liability - amortised cost | Liability - fair value | Liability amortised cost | Liability - amortised cost | Liability - amortised cost | | **11** | **Original date of issuance** | 04 Jun 2020 | 18 Aug 2020 | 16 Sep 2022 | 16 Nov 2022 | 09 Mar 2023 | | **12** | **Perpetual or dated** | Dated | Dated | Dated | Dated | Dated | | **13** | **Original maturity date** | 04 Jun 2031 | 18 Aug 2031 | 15 Sep 2032 | 16 Nov 2034 | 09 Mar 2029 | | **14** | **Issuer call subject to prior supervisory approval** | Yes | Yes | Yes | Yes | Yes | | **15** | **Optional call date, contingent call dates and redemption amount** | 04 Jun 2030/ Tax event at any time / Par | 18 Aug 2030/ Tax event at any time / Par | 15 Sep 2027/Tax or Capital disqualification event at any time / Par | 13 Nov 2025/ Tax or Loss absorption disqualification event at any time / Par | 9 Mar 2028 (or 3 Sep 2023 per Make Whole Call) / Tax or Loss absorption disqualification event at any time / Par or Make Whole Amount (as applicable) | | **16** | **Subsequent call dates, if applicable** | N/A | N/A | N/A | N/A | N/A | | **Coupons/dividends** | | | | | | | | **17** | **Fixed or floating dividend/coupon** | Fixed | Fixed to floating | Fixed to floating | Fixed to floating | Fixed to floating | | **18** | **Coupon rate and any related index** | 2.848% | From 18/08/2030 rate changes from fixed 2.357% to SOFR + 1.947% | From 15/09/2027 rate resets from fixed 1.958% to JPY 1-year TONA Tokyo Swap Rate + 1.750% | From 13/11/2025 rate changes from fixed 0.309% to SOFR + 1.290% | From 09/03/2028 rate changes from fixed 6.161% to SOFR + 1.970% | | **19** | **Existence of a dividend stopper** | No | No | No | No | No | | **UK-20a** | **Fully discretionary, partially discretionary or mandatory (in terms of timing)** | Mandatory | Mandatory | Mandatory | Mandatory | Mandatory | | **UK-20b** | **Fully discretionary, partially discretionary or mandatory (in terms of amount)** | Mandatory | Mandatory | Mandatory | Mandatory | Mandatory | | **21** | **Existence of step up or other incentive to redeem** | No | No | No | No | No | | **22** | **Non-cumulative or cumulative** | Cumulative | Cumulative | Cumulative | Cumulative | Cumulative | | **23** | **Convertible or non-convertible** | Convertible | Convertible | Convertible | Convertible | Convertible | | **24** | **If convertible, conversion trigger(s)** | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Statutory and contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009-UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power and mandatory write-down/conversion of capital instruments power under UK Banking Act 2009 - UK BoE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | | **25** | **If convertible, fully or partially** | May convert fully or partially | May convert fully or partially | May convert fully or partially | May convert fully or partially | May convert fully or partially | | **26** | **If convertible, conversion rate** | To be determined at conversion | To be determined at conversion | To be determined at conversion | To be determined at conversion | To be determined at conversion | | **27** | **If convertible, mandatory or optional conversion** | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | Mandatory upon satisfaction of certain conditions | | **28** | **If convertible, specify instrument type convertible into** | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | Common Equity Tier 1 | | **29** | **If convertible, specify issuer of instrument it converts into** | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | | **30** | **Write-down features** | Yes | Yes | Yes | Yes | Yes | | **31** | **If write-down, write-down trigger(s)** | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Statutory and contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009-UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | Triggers to statutory bail-in power under UK Banking Act 2009 - UK BOE/PRA - Contractual recognition | | **32** | **If write-down, full or partial** | May be written down partially | May be written down partially | May be written down partially | May be written down partially | May be written down partially | | **33** | **If write-down, permanent or temporary** | Permanent | Permanent | Permanent | Permanent | Permanent | | **34** | **If temporary write-down, description of write-up mechanism** | Structural | Structural | Structural | Structural | Structural | | **34a** | **Type of subordination (only for eligible liabilities)** | 4 - Senior notes and other pari passu liabilities | 4 - Senior notes and other pari passu liabilities | 4 - Senior notes and other pari passu liabilities | 4 - Senior notes and other pari passu liabilities | 4 - Senior notes and other pari passu liabilities | | **UK-34b** | **Ranking of the instrument in normal insolvency proceedings $^3$** | N/A | N/A | N/A | N/A | N/A | | **35** | **Position in subordination hierarchy in liquidation (specify instrument type immediately senior to instrument)** | N/A | N/A | N/A | N/A | N/A | | **36** | **Non-compliant transitioned features** | No | No | No | No | No | | **37** | **If yes, specify non-compliant features** | N/A | N/A | N/A | N/A | N/A | | **37a** | **Link to the full term and conditions of the intrument (signposting)** | click here | click here | click here | click here | click here | --- ## Only Eligible Liabilities (that count towards MREL requirements) | | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | HSBC Holdings plc | |---|---|---|---|---|---| | **2a** | **Public or private placement** | Public | Public | Public | Public | Public | | **3** | **Governing law(s) of the instrument** | Laws of the State of New York | Laws of the State of New York | Laws of the State of New York | Laws of the State of New York | Laws of the State of New York | | **3a** | **Contractual recognition of write down and conversion powers of resolution authorities** | Yes | Yes | Yes | Yes | Yes | | **4** | **Regulatory treatment** | | | | | | | | | **Current treatment taking into account, where applicable, transitional CRR rules** | N/A | N/A | N/A | N/A | N/A | | | **Post-transitional CRR rules** | N/A | N/A | N/A | N/A | N/A | | **5** | **Eligible at sola/(sub-) consolidated/ solo&(sub-) consolidated** | N/A | N/A | N/A | N/A | N/A | | **6** | **Instrument type (types to be specified by each jurisdiction)** | Bond | Bond | Bond | Bond | Bond | | **7** | **Amount recognised in regulatory capital or eligible liabilities (Currency in million, as of most recent reporting date)$^2$** | USD 1,913m | USD 835m | USD 1,490m | USD 2,375m | USD 2,375m | | **8** | **Nominal amount of instrument** | USD 2,00