HSBC France â¬ 20,000,000,000 Euro Medium Term Note Programme

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2.2 EU Savings DirectiveIn addition, interest and other revenues paid by the Issuer on Notes which are to be assimilated(assimilables for the purpose of French law) and form a single series with Notes issued (ordeemed issued) outside France before 1 March 2010 will not be subject to the withholding taxset out in Article 119 bis 2 of the French Code général des impôts solely on account of theirbeing paid in a Non-Cooperative State or accrued or paid to persons established or domiciledin a Non-Cooperative State.The Savings Directive has been implemented into French law by Article 242 ter of the French Codegénéral des impôts and Articles 49 I ter to 49 I sexies of the Schedule III to French Code général desimpôts. Article 242 ter of the French Code général des impôts, imposes on paying agents based inFrance an obligation to report to the French tax authorities certain information with respect to interestpayments made to beneficial owners domiciled in another Member State, including, among otherthings, the identity and address of the beneficial owner and a detailed list of the different categories ofinterest paid to that beneficial owner.3. LUXEMBOURG TAXATIONThe Savings Directive has been implemented in Luxembourg law by Act of 21 June 2005 (the Laws).IndividualsLuxembourg residentsA 10% withholding tax has been introduced, as from 1 January 2006, on interest payments made byLuxembourg paying agents (defined in the same way as in the Savings Directive) to Luxembourgindividual residents. Only interest accrued after 1 July 2005 falls within the scope of this withholdingtax. Income (other than interest) from investment funds, interest from current accounts provided thatthe interest rate is not higher than 0.75% and interest allocated to a home savings bank deposit (dépôtd'épargne auprès d'une caisse d'épargne-logement) are exempt from the withholding tax. Furthermore,interest which is accrued once a year on savings accounts (short and long term) and which does notexceed €250 per person and per paying agent is exempt from the withholding tax.This withholding tax represents the final tax liability for the Luxembourg individual resident taxpayers,provided that he/she is an individual acting in the course of the management of his/her private wealth.Luxembourg non-residentsSubject to the application of the Savings Directive and the Laws, there is no withholding tax onpayments of principal, premium or interest (including accrued but unpaid interest) made toLuxembourg non-resident Noteholders.Under the Savings Directive and the Laws, a Luxembourg based paying agent (within the meaning ofthe Directive) is required since 1 July 2005 to withhold tax on interest and other similar income paid byit to (or under certain circumstances, to the benefit of) an individual resident in another Member Stateunless the beneficiary of the interest payments elects for the exchange of information. The same regimeapplies to payments to individuals or residual entities resident in certain dependent territories (asdefined by the Laws and the Savings Directive).The withholding tax rate is currently 35%. The withholding tax system will only apply during atransitional period, the ending of which depends on the conclusion of certain agreements relating toinformation exchange with certain other countries.92
CorporationsThere is no withholding tax for Luxembourg resident and non-resident corporations Noteholders onpayments of principal, premium or interest (including accrued but unpaid interest).93
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Base Prospectus dated 14 December 2
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The Arranger and the Dealers have n
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Other than as set out above, neithe
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actions of any Authorised Offeror,
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Notes 30 June 2012 30 June 2011(in
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Global Asset Management is recognis
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effected directly or via their resp
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specifies “Contractual Masse”,
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continuity of such market if one de
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RESUME EN FRANÇAIS DU PROGRAMMELes
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au sein duGroupeB.9 Prévision oues
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à l’Emetteurprésentant unintér
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titre du Règlement (CE) N° 1060/2
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C.9 Intérêts,échéance etmodalit
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· Le risque de liquidité : se dé
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E.2bRaisons del’offre etutilisati
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2. Risks related to the structure o
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The European Commission intends in
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any Note as a result of the imposit
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addition, certain proposals contain
Page 42 and 43: Government and monetary authorities
Page 44 and 45: DOCUMENTS INCORPORATED BY REFERENCE
Page 46 and 47: INFORMATION INCORPORATED BY REFEREN
Page 48 and 49: SUPPLEMENT TO THE BASE PROSPECTUSIf
Page 50 and 51: interest, if any, payable thereunde
Page 52 and 53: (i)(ii)(iii)on the same basis as th
Page 54 and 55: circumstances in which the Notes wi
Page 56 and 57: Noteholder or in fully registered f
Page 58 and 59: accordance with Condition 15. Any b
Page 60 and 61: For the purposes of these Condition
Page 62 and 63: The fraction is:If dd2 = 31and dd1
Page 64 and 65: Interest Period Date means each Int
Page 66 and 67: For the purposes of this sub-paragr
Page 68 and 69: Date shall be the Early Redemption
Page 70 and 71: Redemption Amount to be notified to
Page 72 and 73: To exercise such option or any othe
Page 74 and 75: (g)CancellationAll Notes purchased
Page 76 and 77: (including Luxembourg so long as th
Page 78 and 79: 2000 on the taxation of savings inc
Page 80 and 81: The Masse alone, to the exclusion o
Page 82 and 83: In accordance with Article R.228-71
Page 84 and 85: (c)Any notice given by publication
Page 86: RECENT DEVELOPMENTSOn 11 December 2
Page 89 and 90: In the case of Materialised Notes w
Page 91: a bank account opened in a financia
Page 95 and 96: 2012 [and the supplement[s] to the
Page 97 and 98: (ii) Interest Payment Date(s): [•
Page 99 and 100: (ii) Day Count Fraction: [Actual/Ac
Page 101 and 102: Masse) applies, insert below detail
Page 103 and 104: PART B - OTHER INFORMATION1. LISTIN
Page 105 and 106: 5. Fixed Rate Notes only - YIELD[No
Page 107 and 108: the public the amount of the offer:
Page 109 and 110: [ANNEX -ISSUE SPECIFIC SUMMARY][ins
Page 111 and 112: SUBSCRIPTION AND SALESubject to the
Page 113 and 114: of the Issuer of any of its content
Page 115 and 116: For the purposes of this provision,
Page 117 and 118: AndorraAny investor purchasing the
Page 119 and 120: france/entreprises-institutionnels/
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HSBC France â¬ 20,000,000,000 Euro Medium Term Note Programme

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HSBC France â¬ 20,000,000,000 Euro Medium Term Note Programme