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

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12. [Dual Currency Notes only – PERFORMANCE OF RATE[S] OF EXCHANGE AND
EXPLANATION OF EFFECT ON VALUE OF INVESTMENT*
Need to include details of where past and future performance and volatility of the relevant rate[s] can
be obtained [and a clear and comprehensive explanation of how the value of the investment is affected
by the underlying and the circumstances when the risks are most evident] 21 .] 22
(When completing this paragraph, consideration should be given as to whether such matters described
constitute "significant new factors" and consequently trigger the need for a supplement to the
Prospectus under article 16 of the Prospectus Directive.)
13. [Derivatives only – EXPLANATION OF EFFECT ON VALUE OF INVESTMENT, RETURN ON
DERIVATIVES SECURITIES AND INFORMATION CONCERNING THE UNDERLYING
[EXPLANATION OF EFFECT ON VALUE OF INVESTMENT
Need to include a clear and comprehensive explanation of how the value of the investment is affected by
the underlying and the circumstances when the risks are most evident, and the risks that investors may
lose part or all of their investment.] 23
14. SETTLEMENT PROCEDURES FOR DERIVATIVE SECURITIES
Need to include a description of the settlement procedures of the derivative securities.
15. RETURN ON DERIVATIVES SECURITIES
Return on derivative securities:
[Description of how any return on derivative
securities takes place]
Payment or delivery date: [=]
Method of calculation: [=]
16. INFORMATION CONCERNING THE UNDERLYING
The exercise price or the final reference price of the
underlying: [=]
A statement setting out the type of the underlying and
details of where information on the underlying can be
obtained:
- an indication where information about the past and
the further performance of the underlying and its
volatility can be obtained [=]
- where the underlying is an index: [Applicable/Not Applicable]
21 Not required for debt securities with a denomination per unit of at least €50,000.
22 Required for derivative securities to which Annex XII to the Prospectus Directive Regulation applies (i.e. if the Final Redemption
Amount is different than 100% of the nominal value of the Notes).
23 Not required for Notes with a denomination per unit of at least €50,000.