FORM 6-K<\/p>\n
\u00a0<\/p>\n
SECURITIES AND EXCHANGE COMMISSION<\/p>\n
\u00a0<\/p>\n
Washington, D.C. 20549<\/p>\n
\u00a0<\/p>\n
\n\u00a0<\/p>\n
\u00a0<\/p>\n
Report of Foreign Private Issuer<\/p>\n
\u00a0<\/p>\n
Pursuant to Rule 13a – 16 or 15d – 16 of<\/p>\n
\u00a0<\/p>\n
the Securities Exchange Act of 1934<\/p>\n
\u00a0<\/p>\n
\n\u00a0<\/p>\n
\u00a0<\/p>\n
\nFor the
\nmonth of July<\/p>\n
\u00a0<\/p>\n
HSBC Holdings plc<\/p>\n
\u00a0<\/p>\n
\n8
\nCanada Square, London E14 5HQ, England<\/p>\n
\u00a0<\/p>\n
\n(Indicate
\nby check mark whether the registrant files or will file annual
\nreports under\u00a0cover of Form 20-F or
\nForm 40-F).<\/p>\n
\u00a0<\/p>\n
\nForm
\n20-F X Form 40-F \u00a0<\/p>\n
\u00a0<\/p>\n
\n\u00a0<\/p>\n
\n\u00a0<\/p>\n
\n\u00a0<\/p>\n
\u00a0NOT FOR RELEASE,
\nPUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
\nINDIRECTLY, IN OR INTO OR FROM ANY JURISDICTION WHERE TO DO SO
\nWOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF
\nSUCH JURISDICTION<\/p>\n
\u00a0<\/p>\n
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of
\nHong Kong Limited take no responsibility for the contents of this
\nannouncement, make no representation as to its accuracy or
\ncompleteness and expressly disclaim any liability whatsoever for
\nany loss howsoever arising from or in reliance upon the whole or
\nany part of the contents of this announcement.<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
Hong Kong Stock Code: 5<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
London: 30 July 2026 (Hong Kong: 31 July 2026)<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
DISCLOSABLE TRANSACTION<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
HSBC TO SELL ITS AUD36 BILLION AUSTRALIAN HOME AND PERSONAL LOAN
\nPORTFOLIO TO BLACKSTONE<\/p>\n
\u25cf\u00a0Following a
\nstrategic review, HSBC Group has agreed to sell its portfolio of
\nAustralian home loans and personal loans to Virgo BidCo Pty Ltd, an
\nentity wholly owned by funds managed by affiliates of
\nBlackstone.<\/p>\n
\u25cf\u00a0Closing is expected
\nto occur in the first half of 2027, subject to various conditions
\nincluding regulatory and competition approval.<\/p>\n
\u25cf\u00a0The
\nDisposal\u00a0is
\nexpected to generate\u00a0an immaterial loss for
\nthe HSBC Group.<\/p>\n
\u25cf\u00a0The remainder of
\nHSBC Australia’s retail business will be wound down in a phased
\nmanner over the next 18 months. Following this, HSBC Australia’s
\nCorporate and Institutional Banking, Asset Management and Private
\nBanking businesses in Australia will be consolidated into The
\nHongkong and Shanghai Banking Corporation Limited
\nSydney<\/p>\n
\u00a0 \u00a0
\n\u00a0 \u00a0Branch, simplifying HSBC’s entity footprint. HSBC
\nexpects to incur US$0.3 billion in associated restructuring costs
\nand write-offs.<\/p>\n
\u25cf\u00a0Following the
\nDisposal and associated wind-down actions, HSBC then expects to
\nrecycle an estimated US$0.3 billion[1]\u00a0of foreign
\ncurrency translation reserve losses to the income statement. HSBC
\ncontinues to invest in and grow its Corporate and Institutional
\nBanking franchise across Australia and New Zealand, supporting the
\nbanking needs<\/p>\n
\u00a0 \u00a0
\n\u00a0 \u00a0of corporate and institutional clients, as well as its
\nPrivate Banking and Asset Management businesses.<\/p>\n
\u00a0<\/p>\n
\n\u00a0<\/p>\n
THE DISPOSAL<\/p>\n
\u00a0<\/p>\n
HSBC Holdings\u00a0plc (“HSBC
\nHoldings”)\u00a0announces that
\nits indirect, wholly-owned subsidiary,
\nHSBC\u00a0Bank\u00a0Australia\u00a0Limited (“HSBC
\nAustralia”), entered into an
\nagreement\u00a0(the
\n“Asset Sale
\nand Purchase Agreement”) on 31
\nJuly 2026\u00a0(Sydney
\ntime and after trading hours on the London Stock Exchange on 30
\nJuly 2026), pursuant to which\u00a0Virgo BidCo Pty
\nLtd\u00a0(the
\n“Purchaser”), which is wholly-owned by funds managed by
\naffiliates of\u00a0Blackstone
\nInc. (“Blackstone”),\u00a0has
\nagreed to acquire\u00a0a
\nportfolio of Australian home loans and personal loans extended by
\nHSBC Australia (the “Portfolio”).<\/p>\n
\u00a0<\/p>\n
The Portfolio\u00a0has\u00a0a
\ntotal book value of approximately AUD36 billion (US$25
\nbillion[2]),
\nas of 31 March 2026.\u00a0Pepper
\nMoney Limited\u00a0(the
\n“Servicer”)\u00a0will\u00a0act
\nas the servicer of the Portfolio for the ongoing administration and
\nmanagement of the loans following completion of the
\nDisposal.<\/p>\n
\u00a0<\/p>\n
Consideration<\/p>\n
\u00a0<\/p>\n
The total consideration for the sale of the Portfolio (the
\n“Disposal”) is equal to (i) a base amount of AUD36 billion
\n(US$25 billion[2])\u00a0(based
\non the Portfolio as of 31 January 2026), plus (ii) an amount to
\nreflect originations in the Portfolio from 31 January 2026 up to
\nand including the date falling 14 days after the date of the Asset
\nSale and Purchase Agreement, in each case subject to certain
\nadjustments, including but not limited to adjustments for changes
\nin interest rates and an adjustment to reflect collections received
\nand costs incurred from the date that new originations cease up to
\nClosing in respect of the relevant part of the Portfolio\u00a0(the
\n“Consideration”).
\nThe Consideration will be settled in cash on the date
\nof\u00a0completion of the Disposal (“Closing”)\u00a0and is subject to a cap and certain
\npost-Closing adjustments.<\/p>\n
\u00a0<\/p>\n
The financial terms and the Consideration were arrived at
\nafter\u00a0a
\ncompetitive auction process and\u00a0arm’s
\nlength negotiations and having taken into account the value of the
\ncomponent elements of the Portfolio and the reasons for the
\nDisposal as set out below.<\/p>\n
\u00a0<\/p>\n
The Asset Sale and Purchase Agreement provides for the payment of a
\ntermination fee by\u00a0the
\nPurchaser\u00a0to
\nHSBC Australia in certain circumstances attributable to the
\nPurchaser, and a reverse termination fee by HSBC Australia to the
\nPurchaser in certain circumstances attributable to HSBC
\nAustralia.<\/p>\n
\u00a0<\/p>\n
Subject to compliance with applicable regulatory requirements and
\nfinalisation and execution of definitive financing agreements,
\nmembers of HSBC Holdings and its subsidiaries (the
\n“HSBC
\nGroup”) are considering
\nproviding, on arm’s length terms, senior financing (in respect of a
\nsubstantial portion of the Consideration) to\u00a0the
\nPurchaser\u00a0to fund its acquisition under the Disposal in the
\nordinary and usual course of business of the HSBC
\nGroup.<\/p>\n
\u00a0<\/p>\n
Conditions<\/p>\n
\u00a0<\/p>\n
The Disposal is subject to various conditions\u00a0(the
\n“Conditions”)\u00a0including,
\namong others, (i) approval (or no objection)
\nunder\u00a0the\u00a0Foreign
\nAcquisitions and Takeovers Act 1975 (Cth); (ii)
\nthe\u00a0Treasurer
\nof the Commonwealth of Australia\u00a0(or
\ntheir delegate) giving consent under section 63 of the Banking Act
\n1959 (Cth); (iii) waiver or clearance from\u00a0the\u00a0Australian
\nCompetition and Consumer Commission;\u00a0and
\n(iv) the legal titleholder obtaining the relevant relief
\nfrom\u00a0the
\nAustralian Securities and Investments Commission\u00a0in
\nrespect of redraw and further advance under a line of credit
\nfacility.<\/p>\n
\u00a0<\/p>\n
From the date of the Asset Sale and Purchase Agreement until
\nClosing, HSBC Australia,\u00a0the Purchaser\u00a0and the Servicer
\nwill cooperate to effect the migration of the Portfolio from HSBC
\nAustralia from Closing (the “Migration”).<\/p>\n
\u00a0<\/p>\n
Closing<\/p>\n
\u00a0<\/p>\n
Closing\u00a0is
\nexpected to occur\u00a0in
\nthe first half of 2027,\u00a0subject
\nto the satisfaction (or waiver, where applicable) of the Conditions
\nand the relevant parties being operationally ready to implement the
\nMigration.<\/p>\n
\u00a0<\/p>\n
The long stop date under the Asset Sale and Purchase Agreement is
\n12 months from the date of the Asset Sale and Purchase Agreement,
\nsubject to extension as the parties may agree in writing (the
\n“Long Stop
\nDate”). If Closing has not
\noccurred on or before the Long Stop Date either party may terminate
\nthe Asset Sale and Purchase Agreement, provided that the failure to
\nclose is not as a result of the terminating party’s failure to
\ncomply with its obligations with respect to the satisfaction of the
\nConditions.<\/p>\n
\u00a0<\/p>\n
FINANCIAL IMPACT OF THE DISPOSAL<\/p>\n
\u00a0<\/p>\n
The outstanding balance of the Portfolio was AUD36 billion and
\nAUD33 billion\u00a0as at\u00a031 December 2025 and 31 December
\n2024,\u00a0respectively. Revenue from the Portfolio is generated
\nprimarily through contractual interest income\u00a0with
\nreference to the prevailing market interest rates for home loans in
\nAustralia.<\/p>\n
\u00a0<\/p>\n
The Disposal is expected to generate an immaterial loss of less
\nthan US$0.1 billion for HSBC Group by the first half of
\n2027.<\/p>\n
\u00a0<\/p>\n
The net proceeds received from the Disposal are expected to be used
\nfor general corporate purposes of the HSBC Group.<\/p>\n
\u00a0<\/p>\n
The remainder of HSBC Australia’s retail business will be wound
\ndown in a phased manner over the next 18 months.\u00a0Following
\nthis, HSBC Australia’s Corporate and Institutional Banking, Asset
\nManagement and Private Banking businesses in Australia will be
\nconsolidated into\u00a0The
\nHongkong and Shanghai Banking Corporation Limited Sydney Branch
\n(the “HSBC
\nSydney Branch”), subject to
\nregulatory approval, simplifying HSBC’s entity footprint. HSBC
\nexpects to incur US$0.3 billion in associated restructuring costs
\nand write-offs.<\/p>\n
\u00a0<\/p>\n
Following the Disposal and associated wind-down actions, including
\nthe internal transfer of HSBC Australia’s remaining businesses and
\nthe potential disposal of the Residual Interests as described
\nbelow, HSBC expects to recycle foreign currency translation reserve
\nlosses to the income statement, with no incremental CET1 impact. As
\nat 31 March 2026, such reserve losses amounted to approximately
\nUS$0.3 billion.<\/p>\n
\u00a0<\/p>\n
All financial statement impacts associated with the Disposal,
\nwind-down and potential disposal of the Residual Interests would be
\nclassified as material notable\u00a0items[3].<\/p>\n
\u00a0<\/p>\n
\nUS$<\/p>\n
\n\u00a0<\/p>\n
\nEstimate[4]<\/p>\n
Expected timing of P&L impact<\/p>\n
\n\u00a0<\/p>\n
\nPortfolio
\nvalue as at 31 March 2026<\/p>\n
\n\u00a0<\/p>\n
\n$24.9
\nbillion<\/p>\n
\n\u00a0<\/p>\n
\u00a0<\/p>\n
\nEstimated
\nconsideration[5]<\/p>\n
\n\u00a0<\/p>\n
\n$25.0
\nbillion<\/p>\n
\n\u00a0<\/p>\n
\nEstimated
\ncosts and write-offs<\/p>\n
\n\u00a0<\/p>\n
\n$(0.2)
\nbillion<\/p>\n
\n\u00a0<\/p>\n
Estimated resulting pre-tax loss on portfolio sale<\/p>\n
\n\u00a0<\/p>\n
\nImmaterial\u00a0(less
\nthan $(0.1) billion)<\/p>\n
\n\u00a0<\/p>\n
By 1H27<\/p>\n
\n\u00a0<\/p>\n
Estimated restructuring costs and write-offs on wind-down of retail
\nbusiness and internal transfer of remaining businesses<\/p>\n
\n\u00a0<\/p>\n
\n$(0.3)
\nbillion<\/p>\n
\n\u00a0<\/p>\n
2026-2027<\/p>\n
\n\u00a0<\/p>\n
Estimated recycling of FX reserve losses<\/p>\n
\n\u00a0<\/p>\n
\n$(0.3)
\nbillion[6]<\/p>\n
\n\u00a0<\/p>\n
By 2028 No incremental CET1 impact<\/p>\n
\n\u00a0<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
Expected financial impacts and timings are based on the 31 March
\n2026 financial position of the Portfolio and the Business and
\nmanagement expectations and estimates, which may be subject to
\nchange.<\/p>\n
\u00a0<\/p>\n
REASONS FOR AND BENEFITS OF THE DISPOSAL AND FUTURE PLANS IN
\nAUSTRALIA FOLLOWING THE DISPOSAL<\/p>\n
\u00a0<\/p>\n
The Disposal follows a strategic review of HSBC Australia’s retail
\nbusiness and forms part of the ongoing simplification of the HSBC
\nGroup. HSBC Holdings is focused on increasing leadership and market
\nshare in areas where it has a clear competitive advantage and the
\ngreatest opportunities to grow and support
\nits\u00a0clients.<\/p>\n
\u00a0<\/p>\n
Australia remains an important part of HSBC Group’s global network.
\nHSBC Group will continue investing in and growing its
\nCorporate\u00a0and\u00a0Institutional Banking franchise across
\nAustralia and New Zealand to support corporates, institutions,
\nsuperannuation funds and innovative scale-ups with pursuing their
\ndomestic and offshore growth ambitions. HSBC will also continue to
\ninvest in and grow its Asset Management and Private Banking
\nbusinesses, which will continue to operate in
\nAustralia.<\/p>\n
\u00a0<\/p>\n
Following the retail business wind-down and the internal transfer
\nof HSBC Australia’s remaining businesses, HSBC Australia
\nwill\u00a0continue
\nto\u00a0hold,
\namong others, certain securitisation-related
\nroles\u00a0relating
\nto the\u00a0Lion
\nSeries 2020-1\/ 2022-1\/ 2023-1\/ 2024-1 Trust (the
\n“Lion
\nTrust”)\u00a0(together,
\nthe “Residual
\nInterests”),\u00a0which are
\nunable\u00a0to\u00a0be transferred
\nat\u00a0Closing\u00a0due\u00a0to\u00a0certain contractual and
\nregulatory requirements.<\/p>\n
\u00a0<\/p>\n
It is contemplated that HSBC Group may dispose of certain of
\nthe\u00a0Residual
\nInterests\u00a0in
\nthe future as part of the orderly transition of the Lion Trust
\narrangements. Since the remaining businesses of HSBC Australia
\nwould have been transferred to the HSBC Sydney Branch at the
\nrelevant time, such remaining businesses would not be impacted by
\nsuch future disposal. An announcement in respect of such future
\ndisposal will be made if required by the applicable laws, rules and
\nregulations. Customers will receive information from HSBC Group
\noutlining the changes to the products held.<\/p>\n
\u00a0<\/p>\n
The board of directors of HSBC Holdings believes that the terms of
\nthe Disposal are fair and reasonable and in the interests of HSBC
\nHoldings and the shareholders of HSBC Holdings taken as a
\nwhole.<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
INFORMATION ON THE PARTIES<\/p>\n
\u00a0<\/p>\n
A.\u00a0\u00a0 Information on HSBC Holdings, HSBC Australia and the
\nHSBC Sydney Branch<\/p>\n
\u00a0<\/p>\n
HSBC Holdings, the parent company of the HSBC Group, is
\nheadquartered in London. The HSBC Group serves customers worldwide
\nand operates in 56 markets across Europe, the Asia-Pacific region,
\nNorth and Latin America, the Middle East and Africa.<\/p>\n
\u00a0<\/p>\n
HSBC Australia is an indirect wholly owned subsidiary of HSBC
\nHoldings. Its principal business activity is banking, including the
\norigination and servicing of residential home loans and personal
\nloans in Australia.<\/p>\n
\u00a0<\/p>\n
The HSBC Sydney Branch is an existing branch of The Hongkong and
\nShanghai Banking Corporation Limited. Its principal business
\nactivities include corporate and institutional banking, private
\nbanking, trade finance, treasury and financial markets, global
\npayments solutions, asset management and securities
\ncustody.<\/p>\n
\u00a0<\/p>\n
B.\u00a0\u00a0 Information on\u00a0the
\nPurchaser\u00a0and
\nthe Servicer<\/p>\n
\u00a0<\/p>\n
The Purchaser is Virgo BidCo Pty Ltd, a company incorporated under
\nthe laws of\u00a0Australia
\nand is wholly owned by funds managed by affiliates of Blackstone
\nand such funds are ultimately controlled by Blackstone. Blackstone
\nis listed on the New York Stock Exchange (NYSE: BX) and is the
\nworld’s largest alternative asset manager. Blackstone seeks to
\ndeliver compelling returns for institutional and individual
\ninvestors by strengthening the companies in which the firm invests.
\nBlackstone’s over US$1.3 trillion in assets under management
\ninclude global investment strategies focused on real estate,
\nprivate equity, credit, infrastructure, life sciences, growth
\nequity, secondaries and hedge funds.<\/p>\n
\u00a0<\/p>\n
The Servicer is listed on the Australian Securities Exchange (ASX:
\nPPM) and is\u00a0one
\nof Australia and New Zealand’s leading non-bank lenders. It was
\nestablished in 2000 as a specialist residential home loan lender in
\nAustralia with a focus on providing innovative home loan solutions
\nto customers. Today, the Servicer has a broad product offering
\nincluding residential home loans, asset finance, commercial real
\nestate and novated leases in Australia and residential home loans
\nin New Zealand, as well as providing independent loan servicing for
\nmortgages, asset finance and personal loans.<\/p>\n
\u00a0<\/p>\n
To the best of the directors of HSBC Holdings’\u00a0knowledge,
\ninformation, and belief, having made all reasonable
\nenquiries,\u00a0the Purchaser, the Servicer and their respective
\nultimate beneficial owners are third parties independent of HSBC
\nHoldings and its connected persons (as defined under
\nthe\u00a0Rules
\nGoverning the Listing of Securities\u00a0on\u00a0The
\nStock Exchange of Hong Kong Limited (the “Hong Kong Listing
\nRules”)).<\/p>\n
\u00a0<\/p>\n
IMPLICATIONS UNDER THE HONG KONG LISTING RULES AND THE UK LISTING
\nRULES FOR HSBC HOLDINGS<\/p>\n
\u00a0<\/p>\n
In view of a cap on the overall Consideration, the Disposal will
\nconstitute a disclosable transaction for HSBC Holdings,\u00a0which
\nis subject to reporting and announcement requirements, but is
\nexempt from\u00a0the\u00a0shareholders’ approval requirement under
\nChapter 14 of the Hong Kong Listing Rules. The transaction does not
\nconstitute a significant transaction under UK Listing Rule
\n7.<\/p>\n
\n\u00a0<\/p>\n
For and on behalf of<\/p>\n
HSBC Holdings plc<\/p>\n
\u00a0<\/p>\n
Angela McEntee<\/p>\n
Group Company
\nSecretary\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/p>\n
\u00a0<\/p>\n
The\u00a0Board
\nof\u00a0Directors
\nof HSBC Holdings plc as at the date of this announcement comprises:
\nBrendan Robert Nelson*, Georges Bahjat Elhedery, Geraldine Joyce
\nBuckingham\u2020,
\nWei Sun Christianson\u2020,
\nRachel Duan\u2020,
\nDame Carolyn Julie Fairbairn\u2020,
\nJames Anthony Forese\u2020,
\nSteven Craig Guggenheimer\u2020,
\nManveen (Pam) Kaur, Dr Jos\u00e9 Antonio Meade
\nKuribre\u00f1a\u2020,
\nRichard Henry Meddings\u2020,
\nKalpana Jaisingh Morparia\u2020,
\nEileen K Murray\u2020\u00a0and
\nSwee Lian Teo\u2020.<\/p>\n
\u00a0<\/p>\n
* Independent non-executive Chairman<\/p>\n
\u2020\u00a0Independent
\nnon-executive Director<\/p>\n
\u00a0<\/p>\n
Media enquiries to:<\/p>\n
\u00a0<\/p>\n
pressoffice@hsbc.com\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0
\n+44 (0) 20 7991
\n8096\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/p>\n
\u00a0<\/p>\n
This announcement contains both historical statements and
\nforward-looking statements. All statements other than statements of
\nhistorical fact are, or may be deemed to be, forward-looking
\nstatements.\u00a0Forward-looking
\nstatements may be identified by the use of terms such as “expects”,
\n“targets”, “believes”, “seeks”, “estimates”, “may”, “intends”,
\n“plan”, “will”, “should”, “potential”, “reasonably possible”,
\n“anticipates”, “project”, or “continue”,\u00a0variations\u00a0of
\nthese words, the negative thereof or similar expressions or
\ncomparable terminology. HSBC Group\u00a0has\u00a0based the
\nforward-looking statements on current plans, information, data,
\nestimates, expectations and projections about, among other things,
\nresults of operations, financial condition, prospects, strategies
\nand future events, and therefore undue reliance should not be
\nplaced on them. These forward-looking statements are subject to
\nrisks, uncertainties and assumptions about us, as described under
\n“Cautionary statement regarding forward-looking statements”
\ncontained in the HSBC Holdings plc Annual Report on Form 20-F for
\nthe year ended 31 December 2025, filed with the Securities and
\nExchange Commission (“SEC”) on 26 February 2026 (the “2025 Form
\n20-F”) and 1Q26\u00a0Earnings
\nRelease, furnished to the SEC on Form 6-K on 5 May 2026 (the “1Q
\n2026 Earnings Release”). HSBC Group undertakes no obligation to
\npublicly update or revise any forward-looking statements, whether
\nas a result of new information, future events or otherwise. In
\nlight of these risks, uncertainties and assumptions, the
\nforward-looking events discussed herein might not occur. Investors
\nare cautioned not to place undue reliance on any forward-looking
\nstatements, which speak only as of their dates. No representation
\nor warranty is made as to the achievement or reasonableness of and
\nno reliance should be placed on such forward-looking statements.
\nAdditional information, including information on factors which may
\naffect the HSBC Group’s business, is contained in the 2025 Form
\n20-F and the 1Q 2026 Earnings Release.<\/p>\n
\u00a0<\/p>\n
\n\u00a0<\/p>\n
\u00a0<\/p>\n
\n\u00a0____________________________________________________________________<\/p>\n
\n\u00a0<\/p>\n
[1]\u00a0As
\nat 31 March 2026.<\/p>\n
[2]\u00a0AUD
\nis converted to US$ at an exchange rate of
\nAUD1:US$0.69.<\/p>\n
\n[3]\u00a0Material
\nnotable items are excluded from HSBC Holdings’ dividend payout
\nratio target basis calculation.<\/p>\n
[4]\u00a0AUD
\nis converted to US$ at an exchange rate of AUD1:US$0.69, where
\nrelevant.<\/p>\n
[5]\u00a0Reflects
\nthe contractual base amount, which remains subject to variable
\nconsideration terms.<\/p>\n
[6]\u00a0As
\nat 31 March 2026.<\/p>\n
\u00a0<\/p>\n
\n\u00a0<\/p>\n
\u00a0<\/p>\n
\n\u00a0<\/p>\n
\u00a0<\/p>\n
SIGNATURE<\/p>\n
\u00a0<\/p>\n
\nPursuant
\nto the requirements of the Securities Exchange Act of 1934, the
\nregistrant has duly caused this report to be signed on its behalf
\nby the undersigned, thereunto duly authorized.<\/p>\n
\u00a0<\/p>\n
\n\u00a0<\/p>\n
\u00a0<\/p>\n
\nHSBC
\nHoldings plc<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
\nBy:<\/p>\n
\u00a0<\/p>\n
\nName:
\nAngela McEntee<\/p>\n
\u00a0<\/p>\n
\nTitle:
\nGroup Company Secretary<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
\u00a0<\/p>\n
\nDate:
\n31 July 2026<\/p>\n","protected":false},"excerpt":{"rendered":"FORM 6-K \u00a0 SECURITIES AND EXCHANGE COMMISSION \u00a0 Washington, D.C. 20549 \u00a0 \u00a0 \u00a0 Report of Foreign Private…\n","protected":false},"author":2,"featured_media":73687,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[20667],"tags":[40483,40482,38965,40485,40484,31732,9881,20674,33541,33567],"class_list":["post-95126","post","type-post","status-publish","format-standard","has-post-thumbnail","category-hsbc","tag-aud36-billion","tag-australian-loan-portfolio-sale","tag-blackstone","tag-cet1-capital","tag-foreign-currency-translation-reserve","tag-form-6-k","tag-hsbc","tag-hsbc-holdings","tag-hsbc-stock","tag-restructuring-costs"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@UnitedKingdom\/117018034361298874","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/95126","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/comments?post=95126"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/95126\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media\/73687"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media?parent=95126"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/categories?post=95126"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/tags?post=95126"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}