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

96
"Index" means the index, as adjusted pursuant to Condition 10, to which the relevant Note relates, as
specified in the relevant Final Terms, and "Indices" and "Basket" shall be construed accordingly.
"Index Linked Note" means a Series of Notes in respect of which an amount which shall be calculated
by reference to an index or basket of indices and/or a formula is payable (as indicated in the relevant
Final Terms).
"Index Sponsor" means the corporation or other entity that (a) is responsible for setting and reviewing
the rules and procedures and the methods of calculation and adjustments, if any, related to the relevant
Index; and (b) announces (directly or through an agent) the level of the relevant Index on a regular basis
during each Scheduled Trading Day. The entity which is the Index Sponsor on the Issue Date maybe,
specified as such in the applicable Final Terms.
"Initial Index Level" means the level of the Index specified as such or otherwise determined in the
relevant Final Terms or, if no such level is specified or otherwise determined in the relevant Final
Terms, the level of the Index as published by the Sponsor as of the Valuation Time on the Strike Date as
determined by the Calculation Agent as of the Valuation Time on the relevant Exchange on the Strike
Date, subject to adjustment from time to time in accordance with the provisions set forth in Condition
10(f) below.
"Market Disruption Event" means either:
(i) (A) the occurrence or existence, in respect of any Component Security, of:
(1) a Trading Disruption in respect of such Component Security, which the Calculation Agent
determines is material, at any time during the one hour period that (a) for the purposes of the
occurrence of a Knock-in Event or a Knock-out Event begins and/or ends at the time on which
the level of the relevant Index triggers respectively the Knock-in Level or the Knock-out Level
or (b) in all other circumstances, ends at the relevant Valuation Time in respect of the Exchange
on which such Component Security is principally traded; and/or
(2) an Exchange Disruption in respect of such Component Security, which the Calculation Agent
determines is material, at any time during the one hour period that (a) for the purposes of the
occurrence of a Knock-in Event or a Knock-out Event begins and/or ends at the time on which
the level of the relevant Index triggers respectively the Knock-in Level or the Knock-out Level
or (b) in all other circumstances, ends at the relevant Valuation Time in respect of the Exchange
on which such Component Security is principally traded; and/or
(3) an Early Closure in respect of such Component Security; and
(B) the aggregate of all Component Securities in respect of which a Trading Disruption and/or, an
Exchange Disruption and/or an Early Closure occurs or exists comprises 20 per cent or more of the level
of the Index; or
(ii) the occurrence or existence, in respect of futures or options contracts relating to the Index, of: (a) a
Trading Disruption; (b) an Exchange Disruption, which in either case the Calculation Agent determines
is material, at any time during the one hour period that (a) for the purposes of the occurrence of a
Knock-in Event or a Knock-out Event begins and/or ends at the time on which the level of the relevant
Index triggers respectively the Knock-in Level or the Knock-out Level or (b) in all other circumstances,