HSBC France € 20,000,000,000 Euro Medium Term Note Programme

100
fact that such day is a Disrupted Day, and the Calculation Agent shall determine the price of the Security
or, as the case may be, the level of the Index in the same manner that it would determine a price of a
Security or, as the case may be, a level of an Index on a deemed Valuation Date that is a Disrupted Day
in accordance with the provisions of "Consequences of Disrupted Days" set forth in Condition 10(a)(A),
(B) or (C), as the case may be.
"Knock-out Determination Period" means the period which commences on, and includes, the Knockout
Period Beginning Date and ends on, and includes, the Knock-out Period Ending Date.
"Knock-out Event" means that (i) the event or occurrence specified as such in the relevant Final Terms;
and (ii) (unless otherwise specified in the applicable Final Terms) that the price of the Security or, as the
case may be, the level of the Index, determined by the Calculation Agent as of the Knock-out Valuation
Time on any Knock-out Determination Day is, as specified in the applicable Final Terms, (i) "greater
than", (ii) "greater than or equal to", (iii) "less than" or (iv) "less than or equal to" the Knock-out Price
or, as the case may be, Knock-out Level.
"Knock-out Level" means the level of the Index specified as such or otherwise determined in the
applicable Final Terms.
"Knock-out Period Beginning Date" means the date specified as such in the applicable Final Terms or,
if such date is not a Scheduled Trading Day, the next following relevant Scheduled Trading Day, subject
to the provisions of "Knock-out Determination Day" above.
"Knock-out Period Ending Date" means the date specified as such in the applicable Final Terms or, if
such date is not a Scheduled Trading Day, the next following relevant Scheduled Trading Day, subject to
the provisions of "Knock-out Determination Day" above.
"Knock-out Price" means the price per Security specified as such or otherwise determined in the
applicable Final Terms.
"Knock-out Valuation Time" means the time or period of time on any Knock-out Determination Day
specified as such in the applicable Final Terms or in the event that the applicable Final Terms do not
specify a Knock-out Valuation Time, the Knock-out Valuation Time shall be the Valuation Time.
(E)
General Definitions related to Automatic Early Redemption
(a)
Definitions
"Automatic Early Redemption Amount" means (a) an amount in the relevant currency specified in the
applicable Final Terms or if such amount is not specified, (b) the product of (i) the nominal amount and
(ii) the relevant Automatic Early Redemption Rate relating to that Automatic Early Redemption Date.
"Automatic Early Redemption Date(s)" means each of the date(s) specified as such in the applicable
Final Terms, subject in each case to adjustment in accordance with the Business Day Convention
specified in the applicable Final Terms.
"Automatic Early Redemption Event" means (unless otherwise specified in the applicable Final
Terms) that the Security Price or, as the case may be, the Index Level is, as specified in the applicable
Final Terms, (i) "greater than", (ii) "greater than or equal to", (iii) "less than" or (iv) "less than or equal