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

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the Interest Amount payable on any date shall not be affected by the application of that Business Day
Convention.
(c)
Rate of Interest for Floating Rate Notes
The Rate of Interest in respect of Floating Rate Notes for each Interest Accrual Period shall be determined
in the manner specified in the relevant Final Terms and the provisions below relating to either ISDA
Determination, FBF Determination or Screen Rate Determination shall apply, depending upon which is
specified in the relevant Final Terms.
(i)
ISDA Determination for Floating Rate Notes
Where ISDA Determination is specified in the relevant Final Terms as the manner in which the
Rate of Interest is to be determined, the Rate of Interest for each Interest Accrual Period shall be
determined by the Calculation Agent as a rate equal to the relevant ISDA Rate plus or minus (as
indicated in the relevant Final Terms) the Margin (if any). For the purposes of this sub-paragraph
(i), "ISDA Rate" for an Interest Accrual Period means a rate equal to the Floating Rate that would
be determined by the Calculation Agent under a Swap Transaction under the terms of an
agreement incorporating the ISDA Definitions and under which:
(A)
(B)
(C)
the Floating Rate Option is as specified in the relevant Final Terms;
the Designated Maturity is a period specified in the relevant Final Terms; and
the relevant Reset Date is the first day of that Interest Accrual Period unless otherwise
specified in the relevant Final Terms.
For the purposes of this sub-paragraph (i), "Floating Rate", "Calculation Agent", "Floating Rate
Option", "Designated Maturity", "Reset Date" and "Swap Transaction" have the meanings
given to those terms in the ISDA Definitions.
(ii)
FBF Determination for Floating Rate Notes
Where FBF Determination is specified in the relevant Final Terms as the manner in which the Rate
of Interest is to be determined, the Rate of Interest for each Interest Accrual Period shall be
determined by the Agent as a rate equal to the relevant FBF Rate plus or minus (as indicated in the
relevant Final Terms) the Margin (if any). For the purposes of this sub-paragraph (ii), "FBF Rate"
for an Interest Accrual Period means a rate equal to the Floating Rate that would be determined by
the Agent under a notional interest rate swap transaction (Echange) in the relevant Specified
Currency incorporating the FBF Definitions and under which:
(A)
(B)
the Floating Rate is as specified in the relevant Final Terms and
the Floating Rate Determination Date is as specified in the relevant Final Terms
For the purposes of this sub-paragraph (ii), "Floating Rate", "Agent" and "Floating Rate
Determination Date" are translations of the French terms "Taux Variable", "Agent" and "Date de
Détermination du Taux Variable", respectively, which have the meanings given to those terms in
the FBF Definitions.