Notice of Redemption

HSBC Holdings plc has given notice of redemption and cancellation (the ‘Redemption Notice’) to The Bank of New York Mellon (formerly, The Bank of New York) (the ‘Depositary’), as the holder of the Issuer’s Preference Shares represented by the ADSs (ADS CUSIP: 404280604; ADS ISIN: US4042806046).

The ADSs were issued pursuant to the Deposit Agreement, dated 6 December 2002, among the Issuer, the Depositary, and all Holders and Beneficial Owners from time to time of the Receipts issued thereunder (the ‘Deposit Agreement’). Capitalised terms used herein and not defined herein shall have the respective meanings ascribed to such terms in the Deposit Agreement.

Further to a resolution of the Board of Directors of the Issuer (the ‘Board’) at a meeting held on 13 February 2020 (the ‘Board Resolutions’), and pursuant to the terms of the Preference Shares, the Articles of Association of the Issuer (the ‘Articles’) and the Deposit Agreement, the Issuer has notified the Depositary that:

	(i)	all the outstanding Preference Shares shall be redeemed in accordance with the terms of the Preference Shares, the Articles, the Board Resolutions and the UK Companies Act 2006 on 13 January 2021 (the ‘Redemption Date’) at a redemption price per Preference Share equal to US$1,000 plus accrued and unpaid dividends for the then-current dividend period, beginning on (and including) 15 December 2020, to (but excluding) the Redemption Date (the ‘Redemption Price’);
	(ii)	share warrants, other documents of title, share certificates or such other evidence as may be accepted by the Board in respect of the Preference Shares are to be presented and surrendered for redemption at the Issuer’s Secretary’s Office located at 8 Canada Square, London E14 5HQ, United Kingdom on the Redemption Date;
	(iii)	all dividends on the Preference Shares shall cease to accrue as from the Redemption Date; and
	(iv)	upon redemption of the Preference Shares on the Redemption Date, the Preference Shares shall appear as redeemed on the share register of the Issuer and shall be treated as cancelled.