13.07.2015 Views

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

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

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

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RISK FACTORS RELATING TO THE ISSUERRISK FACTORSRisk factors in connection with the Issuer are set out in details on pages 57 to 80 and 147 to 164 of the Englishtranslation of the Issuer's <strong>20</strong>11 Document de Référence and on pages 21 to 34 of the English translation of theIssuer's Actualisation du Document de Référence <strong>20</strong>11 which are incorporated by reference in this BaseProspectus.RISK FACTORS RELATING TO THE NOTESThe following paragraphs describe the principal risk factors that the Issuer believes material to the <strong>Note</strong>s to beoffered and/or listed and admitted to trading in order to assess the market risk associated with these <strong>Note</strong>s.Prospective investors should also read the detailed information set out elsewhere in this Base Prospectus andconsult their own financial and legal advisers about risks associated with investments in a particular Series of<strong>Note</strong>s and the suitability of investing in the <strong>Note</strong>s in light of their particular situation.1. The <strong>Note</strong>s may not be a suitable investment for all investorsEach prospective investor in the <strong>Note</strong>s must determine the suitability of that investment in light of itsown circumstances. In particular, each prospective investor should:(i)(ii)(iii)(iv)(v)have sufficient knowledge and experience to make a meaningful evaluation of the <strong>Note</strong>s, themerits and risks of investing in the relevant <strong>Note</strong>s and the information contained orincorporated by reference in this Base Prospectus or any applicable supplement to this BaseProspectus and the relevant Final <strong>Term</strong>s;have access to, and knowledge of, appropriate analytical tools to evaluate, in the context of itsparticular financial situation, an investment in the relevant <strong>Note</strong>s and the impact the relevant<strong>Note</strong>s will have on its overall investment portfolio;have sufficient financial resources and liquidity to bear all of the risks of an investment in the<strong>Note</strong>s, including <strong>Note</strong>s with principal or interest payable in one or more currencies, or wherethe currency for principal or interest payments is different from the prospective investor'scurrency;understand thoroughly the terms of the relevant <strong>Note</strong>s and be familiar with the behaviour ofany relevant indices and financial markets; andbe able to evaluate (either alone or with the help of a financial adviser) possible scenarios foreconomic, interest rate and other factors that may affect its investment and its ability to bearthe applicable risks.Some <strong>Note</strong>s are complex financial instruments and such instruments may be purchased as a way toreduce risk or enhance yield with an understood, measured, appropriate addition of risk to their overallportfolios. A prospective investor should not invest in <strong>Note</strong>s which are complex financial instrumentsunless it has the expertise (either alone or with a financial adviser) to evaluate how the <strong>Note</strong>s willperform under changing conditions, the resulting effects on the value of such <strong>Note</strong>s and the impact thisinvestment will have on the prospective investor's overall investment portfolio.33

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