No offer or sale will be made in Hong Kong, by means of any document, of any Notes in respect of which the minimum principal amount to be subscribed o

Transcription

1 Date*: Value Success International Limited (the Issuer ) Issue of RMB1,800,000, per cent. Fixed Rate Notes due November 2018 unconditionally and irrevocably guaranteed by China Ping An Insurance Overseas (Holdings) Limited (the Guarantor ) Important Risk Warning: This is an investment product. The investment decision is yours but you should not invest in this product unless the intermediary who sells it to you has explained to you that the product is suitable for you having regard to your financial situation, investment experience and investment objectives. The Notes are NOT equivalent to a time deposit. Issuer s/guarantor s risk - The Notes are subject to both the actual and perceived measures of credit worthiness of the Issuer and the Guarantor. There is no assurance of protection against a default by the Issuer and the Guarantor in respect of the repayment obligations. In the worst case scenario, you might not be able to recover the principal and any coupon if the Issuer and the Guarantor default on the Notes. Additional risks are disclosed in the section of Risk Factors below and in the relevant offering documentation of the Notes (which is available upon request). Please refer to it for details. WARNING The contents of this Term Sheet have not been reviewed by any regulatory authority in Hong Kong. You are advised to exercise caution in relation to the offer. If you are in any doubt about any of the contents of this document, you should obtain independent professional advice. IMPORTANT If you are in doubt as to any aspect of this offer, you should consult a licensed securities dealer, bank manager, solicitor, certified public accountant or other professional adviser. Unless otherwise specified in this Term Sheet, any capitalised terms used but not defined in this Term Sheet shall have their meanings as set out in the offering documentation of the Notes (which is available upon request). 1

2 No offer or sale will be made in Hong Kong, by means of any document, of any Notes in respect of which the minimum principal amount to be subscribed or purchased is less than HK$500,000 or its equivalent in another currency. Further, no person shall issue or have in its possession for the purposes of issue, whether in Hong Kong or elsewhere, any advertisement, invitation or document relating to the Notes, which is directed at, or the contents of which are likely to be accessed or read by, the public of Hong Kong (except if permitted to do so under the securities laws of Hong Kong). * If you receive this Term Sheet via , the date of the Term Sheet is the date as stated on the to which it is attached. If you receive this Term Sheet via fax, the date of the Term Sheet is the date as stated on the document header or on the cover letter which accompanies the Term Sheet. If you are viewing this Term Sheet over the internet, the date of the Term Sheet is the date as stated on the webpage to which it is shown. 2

3 Term Sheet Issuer Guarantor Type Rating (A rating is not a recommendation to buy, sell or hold notes and may be subject to suspension, change or withdrawal at any time by the assigning rating agency. Please contact HSBC staff if you wish to obtain (if any) updated ratings information prior to making your investment.) Issue Date Maturity Date^ Coupon Coupon frequency Redemption for Tax Reasons Redemption upon Change of Control Optional Redemption Status of the Notes and Guarantee Value Success International Limited China Ping An Insurance Overseas (Holdings) Limited Series No: N/A Tranche No: N/A Fixed Rate Senior Unsecured Notes Issuer s rating: N/A Guarantor s rating: N/A CMU Code: HSBCFN13017 The Notes rating: N/A (Moody s) / N/A (S&P), as at 07 December 2013 (Source: Bloomberg) 04/11/2013 (DD/MM/YYYY) 04/11/2018 (DD/MM/YYYY) 4.75 per cent. per annum Semi-Annual Notes will be redeemable at the Issuer s option prior to maturity for tax reasons as described in Terms and Conditions of the Notes Redemption and Purchase of the offering documentation of the Notes. The terms of the Notes will contain a provision for the early redemption of the Notes at the option of the holders thereof upon the occurrence of a Change of Control as further described in Condition 6(f) of the offering documentation. Notes may be redeemed before their stated maturity at the option of the Issuer (either in whole or in part) and/or the Noteholders to the extent (if at all) specified in the Pricing Supplement. The Notes will constitute direct, unconditional, unsubordinated and (subject to the provisions of Condition 4 of the offering documentation of the Notes) unsecured obligations of the Issuer and will rank pari passu and without any preference among themselves, with all other outstanding unsecured and unsubordinated obligations of the Issuer, present and future, but, in the event of insolvency, only to the extent permitted by applicable laws relating to creditors rights. 3

4 Offering Documentation Currency & Amount of the issue Interest Commencement Date Denomination The obligations of the Guarantor under the Guarantee constitute direct, unconditional, unsubordinated and (subject to Condition 4 of the offering documentation of the Notes) unsecured obligations of the Guarantor and rank at least pari passu with all other outstanding unsecured and unsubordinated obligations of the Guarantor, present and future, but, in the event of insolvency, only to the extent permitted by applicable laws relating to creditors rights. The Offering Circular dated 13 September 2013 (the Offering Circular ) RMB 1,800,000,000 04/11/2013 (DD/MM/YYYY) RMB 1,000,000 and integral multiples of RMB 10,000 in excess thereof Minimum Investment Per investor: RMB 1,000,000 Amount Redemption at maturity At par (100%) 4 May and 4 November in each year Interest Payment Date(s)^ commencing on 4 May 2014 up to and including the Maturity Date Listing and Pricing The Notes are listed on the Singapore Exchange (the (Please contact HSBC staff for Exchange ). (if any) updated pricing Certain information with regards to the price and turnover (if information prior to making any) of the Notes may be available on the Exchange website your investment.) at Description of the Issuer (from page 10 of the Offering Circular) The information with regards to the last closing price and historical prices of the Notes, which is required by the Securities and Futures Ordinance Schedule 7 Part 2 Section 1(b), (c), (d) and (e), are not included in this Term Sheet because: there is no record of any trading activity of the Notes on the Exchange; the historical prices including but not limited to the closing price on the last trading day immediately preceding (a) this offer, (b) the public announcement in relation to this offer, and (c) each of the 6 months immediately preceding this offer, as well as the highest and the lowest closing prices during the period of last 6 months, are not available publicly through the Exchange and/or other public sources and there has been no public announcement in relation to this offer. The Issuer is a special purpose vehicle and wholly-owned subsidiary of the Guarantor. As at the date of this Offering Circular, save for the issue of the CNY2,000,000, per cent. Guaranteed Bonds due 2014 (the 2014 Bonds ), 4

5 the Issuer has not engaged in any material activities other than entering into arrangements for the proposed issue of the notes under the Programme and on-lending of the proceeds thereof to the Guarantor. As at the same date, the Issuer has no material assets and revenues of its own, and also no subsidiaries nor employees. Description of the Guarantor (from page 10 of the Offering Circular) Contact Information of the Issuer Contact Information of the Guarantor Fees & Charges The Guarantor was incorporated in Hong Kong on 24 October The Guarantor is a directly wholly-owned subsidiary of the Company. As an investment holding company, the Guarantor holds equity interests in various subsidiaries and associate companies, which are engaged in a wide range of businesses, such as insurance, asset management and investments, and the provision of information technology, technical consulting and accounting services. However, the Guarantor does not have material operations of its own, and the Guarantor s Guarantee is limited by various considerations. See Risks relating to the Guarantor s Business The Guarantor has limited material assets and revenue, and obligations of the Guarantor under the Guarantee are structurally subordinated to the liabilities and obligations of its subsidiaries. As at 31 December 2012, the Guarantor had consolidated net assets of HK$1, million and for the years ended 31 December 2011 and 2012, the Guarantor had consolidated revenues of HK$1, million and HK$4, million, respectively. Registered Office Address: P.O. Box 957 Offshore Incorporations Centre Road Town, Tortola British Virgin Islands Registered Office Address: Suite , 11/F Chater House 8 Connaught Road Central Hong Kong Safe Custody Waived Interest Collection Waived Stamp Duty Redemption at Maturity Waived No Hong Kong stamp duty is payable on the purchase of the Notes 5

6 ^ Actual payment dates are subject to the payment received from the relevant custodian which maybe beyond the stated date due to time zone difference and different lead time required by individual paying agent. 6

7 Risk Factors There are investment risks involved in buying the Notes (including the risks set out in the Risk Factors below and the risks disclosed in the relevant offering documentation of the Notes, which is available upon request). Before applying for any of the Notes, you should consider the risks involved in investing in the Notes and consider whether the Notes are suitable for you in light of your own financial circumstances and investment objectives. If you are in any doubt, you should get independent professional advice. Risk factors relating to the Notes in general The Notes are mainly for medium to long term investment, not for short term speculation. You should be prepared to invest your funds in the Notes for the full investment tenor; you could lose part or all of your investment if you choose to sell the Notes prior to maturity. The Notes are not equivalent to, nor should they be treated as a substitute for, time deposit. They are NOT protected deposits and are NOT protected by the Deposit Protection Scheme in Hong Kong. Receipt of any interest and principal amount at maturity of the Notes is subject to the credit risk and default risk of the Issuer and the Guarantor. In case of default, the holder of the Notes may not be able to receive back the principal amount invested or any interest payable on the Notes. The holder of the Notes bears the credit risk and the default risk of the Issuer and the Guarantor and has no recourse to HSBC unless HSBC is the Issuer or the Guarantor itself. One or more independent credit rating agencies may assign credit ratings to an issue of the Notes, the Issuer and the Guarantor. Credit ratings may not reflect all of the risks related to the Notes, the Issuer, the Guarantor and other factors that may affect the value of the Notes. Credit ratings do not guarantee the creditworthiness of the Issuer and the Guarantor. A credit rating by the rating agency is not a recommendation to buy, sell or hold securities and may be subject to revision, suspension or withdrawal at any time. A suspension, reduction or withdrawal at any time of any rating assigned to the Notes may adversely affect the market price of the Notes. The Notes have not been assigned with rating by any credit rating agencies, and the Issuer has no plan to obtain ratings on the Notes from any credit rating agencies. If, in the future, credit ratings are assigned to the Notes, such credit ratings may not reflect all of the risks related to the Notes and other factors that may affect the value of the Notes. Credit ratings do not guarantee the creditworthiness of the Issuer or the Guarantors. The market price of the Notes may fluctuate with market changes. Factors affecting the market price of the Notes include, but are not limited to, fluctuations in interest rates, credit spreads, and liquidity premiums. In particular, investment in the Notes is susceptible to fluctuations in interest rates which may adversely affect the value of the Notes. The price of the Notes may generally fall when the interest rates rise. The fluctuation in yield generally has a greater effect on prices of longer tenor notes. There is an inherent risk that losses may be incurred rather than profit made as a result of buying and selling the Notes. 7

8 The Issuer may have the right (but not the obligation) to early redeem the Notes prior to maturity date upon occurrence of certain events (please refer to the offering documentation of the Notes for details). If the Issuer exercises its right to redeem the Notes before they mature, you may suffer a substantial loss under the Notes and you may not be able to enjoy the same rates of return when you re-invest the amount received under such early redemption in other investments with similar risk parameters. If you wish to sell the Notes, HSBC may but is not obliged to repurchase them based on the prevailing market price under normal market circumstances, but the selling price may differ from the original buying price due to changes in market conditions. There may be exchange rate risks if you choose to convert payments made on the Notes to your home currency. Notes may have no established trading market when issued, and one may never develop. Even if a secondary market does develop, the secondary market for the Notes may not provide significant liquidity or may trade at prices based on the prevailing market conditions and may not be in line with your expectations. Therefore, you may not be able to sell the Notes easily before maturity or at prices that will provide you with a yield comparable to similar investments that have a developed secondary market. Notes subject to optional redemption upon change of control / redemption for tax reasons - The Issuer may not have enough available funds at the time of the occurrence of any Change of Control Triggering Event to make purchases of outstanding Notes, and the Issuer's failure to repurchase will constitute an event of default under the Notes and may constitute an event of default under other indebtedness of the Issuer. For further details, please refer to Condition 6(f) and Terms and Conditions of the Notes Redemption and Purchase of the offering documentation of the Notes. Notes with callable features - The Notes are embedded with selling option(s) to the Issuer, which give the Issuer a right (but not the obligation) to call and early redeem the Notes prior to maturity date (please refer to the offering documentation of the Notes for details). If the Issuer exercises its right to redeem the Notes before they mature, you may suffer a substantial loss under the Notes and you may not be able to enjoy the same rates of return when you re-invest the amount received under such early redemption in other investments with similar risk parameters. RMB currency risk - You should note that the value of RMB against other foreign currencies fluctuates and will be affected by, amongst other things, the PRC government s control (for example, the PRC government regulates conversion between RMB and foreign currencies), which may adversely affect your return under the RMB products when you convert RMB into your home currency. Interest rate risk 8

9 - The value of RMB denominated Notes are subject to interest rate fluctuations, which may adversely affect the return and performance of the RMB products. Liquidity risk - The secondary market for the RMB denominated Notes may not provide significant liquidity or trade at prices based on the prevailing market conditions, which may cause the holders to suffer significant loss especially where their prices have large bid/offer spreads, and may not be in line with the expectations of the holders. Limited availability of underlying investments denominated in RMB - The RMB denominated Notes may not have access to invest directly in Mainland China, which means that its choice of underlying investments denominated in RMB outside Mainland China may be limited. As such, there may be adverse effects on the return and performance of RMB denominated Notes. Possibility of not receiving RMB upon redemption - The RMB denominated Notes may have a significant portion of non-rmb denominated underlying investments. There is a possibility that you will not receive the full amount in RMB upon redemption. This may be the case if the issuer is not able to obtain sufficient amount of RMB in a timely manner due to the exchange controls and restrictions applicable to the currency. Please refer to the offering documentation of the Notes for other risk factors relating to the Issuer, the Guarantor and the Notes. 9

10 Investor s Commitment and Acknowledgements When you place your order for the Notes, you are deemed to make a series of confirmations and acknowledgements, including that you: (i) (ii) (iii) (iv) (v) have read and understood this Term Sheet, including the risks of investing in the Notes as explained in the section Risk Factors before making any investment decision; understand that you should refer to the relevant offering documentation of the Notes, which is available upon request, for further details on the terms of the Notes and risks involved before making any investment decision; confirm that you are prepared to invest your funds in the Notes for the full investment tenor; you could also lose part or all of your investment if you choose to sell your Notes prior to maturity; understand that this document is not intended to provide and should not be relied upon for tax, legal or accounting advice, investment recommendations or credit worthiness or other evaluation of the Issuer and the Guarantor; prospective investors should consult their tax, legal, accounting and/or other advisors; and understand that you should avoid excessive investment in a single type investment, with regard to its total proportion of your overall portfolio, in order to guard against overexposure to any single investment. How to find out the current market value of your investment after purchase? The current market value of your investment will be available upon request. Please contact our staff at any HSBC branch in Hong Kong. Note: If you have any feedback or complaint about any aspect of the service you have received, please contact our Hong Kong branches, call (852) for HSBC Premier customers, (852) for HSBC Advance customers or (852) for Other Personal Banking customers, or write to the Customer Relations Department at P.O. Box No Kowloon Central Post Office, or send an to feedback@hsbc.com.hk. We will respond to a complaint within a reasonable period of time normally not exceeding 30 days in general circumstances. If you are not satisfied with the outcome of your complaint, you have the right to refer the matter to the Enforcement Department of Hong Kong Monetary Authority at 55th Floor Two International Finance Centre, 8 Finance Street, Central, Hong Kong. For monetary dispute, you have the right to refer the matter to the Financial Dispute Resolution Centre at 15/F, Stanhope House, 734 King s Road, Quarry Bay, Hong Kong. References to websites References to the websites stated in this document where further information may be obtained are intended as guides for you to access further public information on the securities. Information appearing on such websites is not part of the offering documents. HSBC accept no responsibility whatsoever that such other information, if available, is accurate and/or up-to-date, and no responsibility is accepted in relation to any such information by us and our respective affiliates. 10

11 Disclaimer The Hongkong and Shanghai Banking Corporation Limited ( HSBC ) has issued this document. The information contained in this termsheet is derived from sources HSBC believes to be reliable, but which HSBC has not independently verified. HSBC makes no representation or warranty (express or implied) of any nature nor is any responsibility of any kind accepted with respect to the completeness or accuracy of any information, projection, representation or warranty (expressed or implied) in, or omission from, this document. Any opinions expressed therein are given in good faith, but are subject to change without notice. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. Please note that the above rates or prices are for indicative purposes only and may vary in accordance with changes in market condition. Distribution of this document may be restricted by law in certain jurisdictions and the information contained herein is to the recipients and may not be reproduced or otherwise disseminated. HSBC and its affiliates and/or officers, directors and employees may have positions in any instruments or currencies mentioned in this document and may from time to time add to or dispose of such instruments or currencies. User of the information is advised to make independent judgment with respect to any matter contained herein. Issued by The Hongkong and Shanghai Banking Corporation Limited ( HSBC ) registered at 1 Queen s Road Central, Hong Kong The Hongkong and Shanghai Banking Corporation Limited is the distributor which is a wholly owned subsidiary of HSBC Holdings plc, the holding company of the HSBC Group. The Hongkong and Shanghai Banking Corporation Limited Authorised and Regulated by Hong Kong Monetary Authority A registered institution under the Securities and Futures Ordinance, with Central Entity Identity Number AAA523 Registered Office: 1 Queen s Road Central, Hong Kong Tel: , Member HSBC Group 11

12 日期 *: Value Success International Limited( 發行人 ) 發行人民幣 1,800,000,000 元 4.75% 定息票據 2018 年 11 月到期由中國平安保險 ( 海外 ) 控股有限公司 ( 擔保人 ) 提供無條件及不可撤銷的擔保 重要風險通知 : 此乃投資產品 投資決定是由閣下自行作出的, 但閣下不應投資在該產品, 除非中介人於銷售該產品時已向閣下解釋經考慮閣下的財務情況 投資經驗及目標後, 該產品是適合閣下的 本票據並不相等於定期存款 發行人 / 擔保人風險 本票據表現受發行人及擔保人的實際和預計借貸能力所影響 就償債責任而言, 本票據不保證發行人及擔保人不會拖欠債務 在最壞情況下, 如果發行人及擔保人不履行契約, 本票據持有人可能無法取回本票據的利息和本金 以下 風險因素 部份及本票據相關發售文件 ( 可向滙豐索取 ) 將列出其他風險因素, 詳情請參閱有關部份 警告 本條款表的內容未經在香港的規管當局審核 閣下應就有關要約謹慎行事 如閣下對本文件的任何內容有任何疑問, 閣下應尋求獨立專業意見 重要提示 如閣下對此要約的任何方面有疑問, 應諮詢持牌證券交易商 銀行經理 律師 會計師或其他專業顧問 除本條款表另有說明外, 本條款表的英文版本所使用但並未作出定義的任何大寫術語應具有本票據發售文件 ( 可向滙豐索取 ) 所載的涵義 認購或購買之最低本金金額低於 500,000 港元或等值之其他貨幣的票據, 不可以任何文件形式在香港發售或銷售 此外, 除香港證券法批准者外, 任何人士均不得於香港或任何其它地區發行或出於發行之目的保留直接向香港公眾發行內容可能將被香港公眾獲取或了解之任何票據相關廣告 邀請或文件 * 如閣下透過電郵收取本條款表, 則條款表的日期為條款表的郵件所載日期 如閣下透過傳真收到本條款表, 條款表日期即文件頁首或條款表附函所示的日期 如閣下透過互聯網閱讀本條款表, 則條款表的日期為網頁所示日期 12

13 條款表 發行人 擔保人 Value Success International Limited 中國平安保險 ( 海外 ) 控股有限公司 序列號 : 不適用 票據號 : 不適用 CMU 編碼 : HSBCFN13017 類別 定息高級無抵押票據 評級 發行人評級 : 不適用 ( 評級並不代表建議購買 出售或持有票據, 且可由授 擔保人評級 : 不適用 予評級之機構隨時終止 更 改或撤銷 倘若閣下希望在作出投資前獲得更新的 ( 如 票據評級 : 不適用 ( 穆迪 )/ 不適用 ( 標準普爾 ), 截至 2013 年 12 月 7 日 有的話 ) 評級資料, 請聯絡 滙豐的職員 ) ( 資料來源 : 彭博資訊 ) 發行日期 04/11/2013 ( 日 / 月 / 年 ) 到期日期 ^ 04/11/2018 ( 日 / 月 / 年 ) 票息 每年 4.75% 票息頻率 每半年 基於稅務理由贖回 誠如本票據發售文件 本票據條款及條件 贖回及購買 一節所述, 發行人將可選擇於到期日之前基於稅務理由贖回本票據 因控制權變動贖回選擇性贖回票據及擔保人的地位發售文件貨幣及發行金額 本票據條款將載列有關票據持有人可選擇於發生控制權變動事件後提早贖回本票據的條文, 詳情如發售文件的條件 6(f) 所述 發行人可 ( 全部或部份 ) 及 / 或票據持有人可根據 ( 如為全部 ) 定價補充文件的規定, 選擇於票據所示到期日前贖回票據 本票據將構成發行人的直接 無條件 非後償及 ( 受限於本票據發售文件條件 4 的規定 ) 無抵押債務, 並將與發行人現有及未來的所有其他未償還的無抵押及非後償債務享有同等地位, 彼等之間並無任何優先權, 惟在資不抵債情況下, 僅在適用法律許可的情況下與債權人權利有關 擔保人在擔保中的債務構成擔保人的直接 無條件 非後償及 ( 受限於本票據發售文件的條件 4) 無抵押債務, 並至少與擔保人現有及未來的所有其他未償還的無抵押及非後償債務享有同等地位, 惟在資不抵債情況下, 僅在適用法律許可的情況下與債權人權利有關 日期為 2013 年 9 月 13 日的發售通函 ( 發售通函 ) 人民幣 1,800,000,000 元 13

14 計息開始日期 04/11/2013 ( 日 / 月 / 年 ) 面額 人民幣 1,000,000 元及超過部份按人民幣 10,000 元的整數倍計算 最小投資額 每名投資者 : 人民幣 1,000,000 元 到期贖回按面值 (100%) 2014 年 5 月 4 日開始至到期日 ( 包括當日 ) 每年的 5 月 4 日利息支付日期 ^ 及 11 月 4 日本票據在新加坡交易所 ( 交易所 ) 上市 上市及定價 ( 倘若閣下希望在作出投資有關本票據價格及成交額 ( 如有 ) 的若干資料可於交易前獲得更新的 ( 如有的話 ) 所網站 查詢 定價資料, 請聯絡滙豐的職員 ) 須根據證券及期貨條例附表 7 第 2 部份第 1(b) (c) (d) 及 (e) 節予以提供的有關本票據最後收市價及過往價格的資料並無載入本條款表, 原因是 : 本票據並無於交易所交易的任何記錄 ; 發行人簡介 ( 摘自發售通函第 10 頁 ) 擔保人簡介 ( 摘自發售通函第 10 頁 ) 過往價格包括但不限於緊接 (a) 本發售,(b) 有關本發售的公佈及 (c) 緊接本發售前六個月各月之前的最後交易日的收市價 以及最後六個月期間的最高及最低收市價無法透過交易所及 / 或其他公開來源取得 ; 及並無有關本發售的公佈 發行人乃一間特別目的實體及擔保人的全資附屬公司 截至此發售通函刊發日期, 除發行人民幣 2,000,000,000 元 息率為 2.075% 並於 2014 年到期的有擔保債券 ( 2014 年債券 ) 外, 發行人未曾從事任何就根據計劃擬發行票據及將發行票據所得款項轉借予擔保人而訂立安排以外的重大活動 截至該日, 發行人本身並無擁有重大資產及收入, 亦無附屬公司及僱員 擔保人於 1996 年 10 月 24 日在香港註冊成立, 乃本公司的直接全資附屬公司 作為一間投資控股公司, 擔保人持有多間附屬公司及聯營公司的股本權益 該等公司從事多種業務, 包括保險 資產管理及投資以及提供資訊科技 技術諮詢及會計服務 然而, 擔保人本身並無經營重大業務, 且擔保人提供的擔保受多項因素限制 請參閱 與擔保人業務有關的風險 擔保人擁有有限的重大資產及收入, 而擔保人在擔保中的債務在結構上隸屬於其附屬公司的責任及債務 截至 2012 年 12 月 31 日, 擔保人錄得綜合淨資產 1, 百萬港元, 而截至 2011 年及 2012 年 12 月 31 日止年度, 擔保人錄得綜合收入分別為 1, 百萬港元及 4, 百萬港元 發行人聯絡資料 註冊辦事處地址 : P.O. Box 957 Offshore Incorporations Centre Road Town, Tortola British Virgin Islands 擔保人聯絡資料 註冊辦事處地址 : 香港中環干諾道中 8 號 14

15 遮打大廈 11 樓 室 服務收費 託管服務豁免 代收利息豁免 到期贖回豁免 印花稅 購買本票據無須支付香港印花稅 ^ 有關款項的實際支付日期視乎收到相關託管人的付款日期 基於時差原因或個別支付代理不同的處理時間, 有關款項的實際支付日期可能遲於日期所述 15

16 風險因素 購買本票據涉及投資風險 ( 包括以下 風險因素 所載風險及可向滙豐索取的本票據相關發售文件披露的風險 ) 在投資於本票據之前, 投資者應考慮投資本票據所涉及的風險, 並就本身的財政狀況及投資目標, 考慮是否適合投資於本票據 如有任何疑問, 應諮詢獨立專業顧問的意見 本票據涉及的一般風險因素 本票據主要提供中長期的投資, 並不是短線投機的工具 閣下應準備於整段投資期內將資金投資於本票據上 ; 若閣下選擇在到期日之前提早出售本票據, 可能會損失部份或全部的投資本金額 本票據並不相等於定期存款, 亦不應被視為其替代品 本票據並非受保障存款, 且不受香港存款保障計劃之保障 於本票據到期日收回利息和本金需受發行人及擔保人的信貸及違約風險影響 如果發生違約, 票據持有人可能無法取回本票據的利息和本金 票據持有人須承擔發行人及擔保人的信貸及違約風險, 且不能向滙豐追討任何賠償, 除非滙豐本身為該票據之發行人或擔保人 一家或多家獨立評級機構可能會向發行的票據 發行人及及擔保人授予信用評級 信用評級可能不會反映票據 發行人 擔保人的所有相關風險以及可能影響票據價值的其他因素 信用評級並不能對發行人及擔保人的信用水平提供保證 評級機構的信用評級並非買入 出售或持有票據的建議, 可能隨時修訂 暫停或撤回 倘若評級機構於任何時間暫停 下調或撤回對本票據的評級, 則可能會對本票據的市價造成不利影響 本票據並未獲任何用評級機構授予信用評級, 且發行人並無計劃向任何評級機構獲取本票據的信用評級 倘日後本票據獲授予信用評級, 有關信用評級可能不會反映票據所有相關風險以及可能影響票據價值的其他因素 信用評級並不能對發行人或擔保人的信用水平提供保證 本票據的市價可能會隨著市場變化而波動 影響本票據市價的因素包括, 但不限於, 利率 信貸息差及流通性溢價的波動 特別是, 投資本票據易受市場利率波動影響, 或將對本票據價值產生不利影響 本票據價值或會因利率上升而下跌 而孳息率的上落對越長年期的票據價格影響一般較大 買賣票據帶有風險, 投資者未必能夠賺取利潤, 可能會招致損失 於發生若干事件的情況下, 發行人可能有權 ( 但無責任 ) 在到期日前提早贖回票據 ( 詳情請參閱票據發售文件 ) 倘發行人在到期日前行使其權利贖回票據, 則閣下或可能因本票據承受重大損失, 當閣下將該次因提早贖回獲得的金額再投資於其他風險相近的投資項目時, 亦未必能夠獲得相同的回報率 如閣下打算出售經滙豐代閣下購入的票據, 滙豐可但並無責任在正常市場下, 按市價進行有關交易 但基於市況變動, 賣出價與最初的買入價可能不同 16

17 倘若閣下選擇將票據所支付的付款兌換為本國貨幣, 可能須承受匯率波動的風險 票據發行時可能並無一個已建立的交易市場, 亦可能永遠不會建立 即使二手市場已建立, 交易本票據的二手市場或不能提供龐大的流通量或按現行市價買賣, 且可能與閣下之預期不符 因此, 閣下或許不能於到期日前輕易出售本票據, 或按可為閣下提供可類比有已建立二手市場的投資工具所獲收益的價格出售 在發生控制權變動時可選擇性贖回 / 基於稅務理由贖回本票據 - 發行人可能無法在發生任何控制權變動觸發事件之時取得足夠的資金回購發行在外的票據, 且發行人未能回購將構成本票據項下的違約事件, 並可能構成發行人其他債務項下的違約事件 進一步詳情請參閱本票據發售文件的條件 6(f) 及 本票據條款及條件 贖回及購買 一節 本票據具有可贖回特點 - 本票據包含發行人的贖回權, 令發行人有權 ( 但無責任 ) 在到期日之前提早贖回本票據 ( 詳情請參閱本票據的發售文件 ) 倘若發行人在到期之前行使其權利贖回本票據, 閣下可能在本票據遭受較大損失, 在將提早贖回所收取的金額重新投資於具有類似風險參數的其他投資時, 未必能夠獲得相同回報率 人民幣貨幣風險 - 閣下應注意, 人民幣兌其他外幣的匯率可能出現波動, 並會受到 ( 其中包括 ) 中國政府控制 ( 例如中國政府對人民幣與外幣兌換作出的監管 ) 等因素的影響, 從而可能會在閣下將人民幣兌換為本地貨幣時對人民幣產品的回報產生不利影響 利率風險 - 人民幣計值票據的價值受利率波動影響, 這可能影響人民幣產品的回報及表現 流動性風險 - 人民幣計值票據的二手市場或不能提供龐大的流通量或按當時市場狀況的價格買賣, 特別當票據的價格存在較大的買賣差價, 可能會導致票據持有人蒙受重大損失, 及可能不符合票據持有人的期望 按人民幣計值的相關投資之選擇有限 - 人民幣計值票據可能無法直接投資於中國內地, 這意味著其對中國內地以外按人民幣計值的相關投資之選擇可能受限 因此, 人民幣計值票據之回報及表現可能會受到不利影響 在贖回時可能無法取得人民幣款項 17

18 - 人民幣計值票據可能擁有大部份非人民幣計值相關投資 閣下在贖回時可能將無法悉數取得人民幣款項 假如發行人因外匯管制及適用貨幣的限制而無法及時取得充足的人民幣款項, 可能就會出現這種情況 請參閱本票據的發售文件, 了解有關發行人 擔保人及本票據的其他風險因素 18

19 投資者責任及聲明 投資者向分銷商購買本票據時, 投資者將被視為作出一系列承諾及聲明, 包括 : (i) (ii) (iii) (iv) (v) 於作出任何投資決定前, 已閱讀及理解本條款表, 包括 風險因素 部分所說明的有關投資本票據的風險 ; 明白於作出任何投資決定前, 應參閱可向滙豐索取的本票據相關發售文件, 以便獲得有關本票據條款及所涉及風險的進一步詳情 ; 確認準備於整段投資期內將資金投資於本票據上 ; 若投資者選擇在到期日之前提早出售本票據, 可能會損失部份或全部的投資本金 ; 明白本文不擬提供稅務 法律或會計意見 投資建議或對發行人及擔保人的誠信或其他方面進行評估, 投資者亦不應依賴本文作上述用途 準投資者應諮詢其稅務 法律 會計及 / 或其他顧問 ; 及 明白就於閣下整體投資組合所佔比例而言, 閣下應避免過度集中於一個投資類型, 以防止集中於某個投資類型而增加投資風險 在投資票據後, 怎樣查詢票據的市值? 閣下可聯絡滙豐在香港的各分行查詢票據的市值 注意:如閣下對我們的服務有任何意見或投訴, 請聯絡我們在香港的任何分行 致電 (852) ( 滙豐卓越理財客戶 ),(852) ( 運籌理財客戶 ) 或 (852) ( 其他個人理財客戶 ) 致函我們的客戶關係部 ( 九龍中央郵政局郵政信箱 號 ) 或電郵至 feedback@hsbc.com.hk 我們在一般情況下會於合理的時間 ( 通常 30 日 ) 內回覆客戶的投訴 若閣下對投訴結果仍有不滿, 閣下有權將個案轉交香港金融管理局的法規部處理, 地址為香港中環金融街 8 號國際金融中心 2 期 55 樓 有關金錢糾紛, 閣下有權將個案轉交金融糾紛調解中心 ( 香港鰂魚涌英皇道 734 號樂基中心 15 樓 ) 處理 關於網站的提述 本文件有提述若干網站, 其中或可提供進一步資料, 以指引閣下取得有關證券的更多公眾資料 該等網站所載的資料並非發售文件的一部份 滙豐對該等其他資料 ( 如有 ) 是否準確及 或最新概不承擔任何責任, 且本集團及本集團相關聯屬公司對任何該等資料概不承擔責任 19

20 免責聲明香港上海滙豐銀行有限公司 ( 滙豐 ) 刊發本文件 本條款表所載資料取自滙豐相信為可靠之來源, 惟滙豐並未對其進行獨立核實 滙豐概無作出任何性質的聲明及保證 ( 明示或暗示 ), 亦不對本文件所載任何資料 預測 聲明及保證 ( 明示或暗示 ) 之完整性或準確性或任何遺漏承擔任何責任 本文件內發表之意見乃真誠地發表, 惟可未經通知而改變 滙豐概不就使用本文件所導致之任何直接或間接或相應而生之損失接納任何責任 謹請注意, 上述利率或價格乃僅供參考, 並可能根據市況而變動 若干司法管轄區之法律可能限制派發本文件, 而本交件中所載之資料乃僅供收件人閱覽, 不得複製或以其他形式傳佈 滙豐及其聯屬公司及 / 或高級職員 董事及僱員可能就本文件所述之任何金融工具或貨幣持倉, 並可不時增加或出售有關金融工具或貨幣 使用資料之人士務請就其中所載之任何事宜作出獨立判斷 由香港上海滙豐銀行有限公司 ( 滙豐, 註冊地址為香港皇后大道中 1 號 ) 刊發 香港上海滙豐銀行有限公司是分銷商, 為滙豐集團旗下控股公司 滙豐控股有限公司的全資附屬公司 香港上海滙豐銀行有限公司經由香港金融管理局授權及監管根據 << 證券及期貨條例 >> 註冊為註冊機構, 中央註冊編號為 AAA523 註冊辦事處 : 香港皇后大道中 1 號電話 : , 滙豐集團成員 20