Issuer Guarantor Type Rating (A rating is not a recommendation to buy, sell or hold securities and may be subject to suspension, change or withdrawal

Transcription

1 Date*: Bank of China (Hong Kong) (the Issuer ) Issue of US $2,500,000, per cent Fixed Rate Notes due February 2020 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 risk The Notes are subject to both the actual and perceived measures of credit worthiness of the Issuer. There is no assurance of protection against a default by the Issuer 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 defaults 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). * 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. 1

2 Issuer Guarantor Type Rating (A rating is not a recommendation to buy, sell or hold securities 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.) Status of the Notes Term Sheet Bank of China (Hong Kong) Limited ( BOCHK ) Series No: N/A None Tranche No: N/A Fixed Rate Subordinated Notes ISIN Code: USY1391CAJ00 Issuer s rating: Aa3 (Moody s) / A+ (S&P), as at 2 February, 2017 Guarantor s rating: N/A The Notes rating: A3 (Moody s) / A (S&P), as at 07 December 2013 (Source: Bloomberg) The Notes constitute direct, unsecured and subordinated obligations of the Issuer, ranking pari passu without any preference among themselves. Upon the occurrence of a Subordination Event 1, the claims of the Noteholders will be subordinated in right of payment in the manner provided in the Indenture 2 constituting the Notes to the claims of depositors and all other unsubordinated creditors of the Issuer and will rank at least pari passu in right of payment with all other Subordinated Indebtedness 3 of the Issuer, present and future. Claims in respect of the Notes will rank in priority to the rights and claims of holders of subordinated liabilities which by their terms rank in right of payment junior to the Notes and all classes of equity securities of the Issuer, including holders of preference shares, if any. Remarks: 1. A Subordination Event shall occur if an order is made or an effective resolution is passed for the windingup, liquidation or dissolution or similar proceeding of the Issuer in Hong Kong (except for the purpose of a reconstruction, amalgamation or reorganization of the terms which have previously been approved by a resolution of the Noteholders passed at a meeting duly convened and held in accordance with the Indenture by a majority of at least 66 2/3 % of the votes cast). 2

3 Issue Date 11 February 2010 Maturity Date * 11 February 2020 Coupon 5.55 per cent. per annum Coupon frequency Semi Annual Call Option N/A Redemption for Tax Reasons Redemption upon Change of Control/other specified event Redemption upon Specific Events 2. The Notes is constituted by an Indenture dated February 11, 2010 between the Issuer, the Trustee, the note registrar and the paying agent. 3. For the purposes of the foregoing, Subordinated Indebtedness means all indebtedness which is subordinated, in the event of the windingup of the Issuer, in right of payment to the claims of depositors and other unsubordinated creditors of the Issuer, and for this purpose indebtedness shall include all liabilities, whether actual or contingent. Subject to the prior written approval of the HKMA, the Issuer may at its option redeem the Notes, in whole but not in part, at any time at their principal amount together with accrued but unpaid interest in the event of certain changes affecting taxes of Hong Kong as further described in the Indenture constituting the Notes. For further details, please refer to Early Redemption for Tax Reasons in the offering docuementation. N/A N/A Offering Documentation The Offering Memorandum dated April 2010 Currency & Amount of the issue USD 2,500,000,000 Interest Commencement Date 11 February 2010 Denomination USD 100,000 and integral multiples of USD 1,000 in excess thereof Minimum Investment Amount Per investor: USD 100,000 Redemption at maturity At par (100%) Interest Payment Date(s) * 11th February and August in each year commencing on 11 August 2010 Listing and Pricing (Please contact HSBC staff for The Notes are listed on the Hong Kong Stock Exchange ( the Exchange ). (if any) updated pricing information prior to making 3

4 your investment.) Certain information with regards to the price and turnover (if any) of the Notes may be available on the Exchange website at The information with regards to the last closing price and historical prices of the Notes, which required by Securities and Futures Ordinance Schedule 7 Part 1 Section 1 (b), (c), (d) and (e), are not included in the document 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. Description of the Issuer (from page 1 of the Offering Memorandum) BOCHK is a major commercial banking group in Hong Kong with a leading market share in its core commercial banking business such as deposits, residential mortgages, corporate loans and syndicated loans. It is one of the three Hong Kong dollar noteissuing banks. It was appointed by the People s Bank of China ( PBOC ) as the sole clearing bank for Renminbi business in Hong Kong in With over 270 branches and more than 470 ATMs as well as other delivery channels in Hong Kong as of September 30, 2009, it offers a comprehensive range of financial products and services to individual and corporate customers. At the same date, it had 23 branches and subbranches in Mainland China that provide local and crossborder banking services to customers in Hong Kong and Mainland China. In Hong Kong, the Issuer is the second largest banking group in terms of asset size, customer deposits and loans. As of December 31, 2008, it had HK$1,118 billion in total assets, HK$806 billion in total deposits and HK$461 billion in gross advances to customers. Its net operating income before impairment allowances in 2008 was HK$26 billion. As of September 30, 2009, it had HK$1,197 billion in total assets, HK$889 billion in total deposits, HK$507 billion in gross advances to customers. Its net operating income before impairment allowances for the nine months ended September 30, 2009 was HK$19 billion. 4

5 The Issuer has three principal lines of business, consisting of personal banking, corporate banking and treasury operations. It provides a comprehensive range of banking products and services to its individual and corporate customers. It also provides Renminbi banking products and services in Hong Kong, such as deposit, exchange, remittance, credit cards and bonds distribution to their individual customers, as well as trade settlement and finance to its corporate customers. Contact Information of the Issuer Fees & Charges Registered Office Address: Safe Custody Waived Bank of China (Hong Kong) Limited Bank of China Tower, 1 Garden Road, Hong Kong Interest Collection Waived Redemption at Maturity Waived Stamp Duty No Hong Kong stamp duty is payable on the purchase of the Notes * 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. 5

6 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. 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 has no recourse to HSBC unless HSBC is the Issuer itself. One or more independent credit rating agencies may assign credit ratings to an issue of the Notes and the Issuer. Credit ratings may not reflect all of the risks related to the Notes, the Issuer and other factors that may affect the value of the Notes. Credit ratings do not guarantee the creditworthiness of the Issuer. 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 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. 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 reinvest 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 6

7 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 which are subordinated The payment obligations of the Issuer are unsecured and subordinated obligations of the Issuer. This means that, upon the occurrence of any insolvency or windingup of the Issuer, the claims of the Noteholders will be subordinated in right of payment and will rank behind the claims of, amongst others, the holder of the unsubordinated debentures (if any) and other unsubordinated indebtedness of the Issuer. Therefore, in a windingup proceeding, the Noteholders may recover less than the holders of other unsubordinated liabilities of the Issuer. There is no restriction on the amount of securities which the Issuer may issue and which rank senior to, or pari passu with, the Notes. The issue of any such securities may reduce the amount recoverable by you in case of a windingup of the Issuer. The Notes are subordinated obligations of the Issuer. Accordingly, in the windingup of the Issuer, there may not be a sufficient amount to satisfy the amounts owing to holders of the Notes. You will bear higher risks than holders of the Issuer s unsubordinated noteholders (if any) and other unsubordinated indebtedness due to a lower priority of claim in the event of the Issuer s insolvency except those claims which rank pari passu with or junior to the Notes. The Notes may pay a higher rate of coupon than comparable Notes which are not subordinated, however, there is a real risk that you will lose all or some of its investment and will not receive a full return of the principal amount or any unpaid amounts due under the Notes. Please be aware the concentration risk of investing in bonds issued by the same issuer or companies by the same group. A degrading of any of the group company's credit rating may expose the whole group to contagion risk. Please be also aware the risk of over concentrating investment in the high risk investment products. Please refer to the offering documentation of the Notes for other risk factors relating to the Issuer and the Notes. 7

8 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; 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 Banking Services Complaints Unit 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 Unit 37014, 37/F, Sunlight Tower, 248 Queen s Road East, Wan Chai, 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 uptodate, and no responsibility is accepted in relation to any such information by us and our respective affiliates. 8

9 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. The information in this document does not constitute a solicitation for the purchase or sale of any securities, commodity or the Notes. 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 9

10 日期 *: 中國銀行 ( 香港 ) 有限公司 ( 發行人 ) 發行 2,500,000,000 美元 5.55% 定息票據 2020 年 2 月到期 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 發行人風險 本票據表現受發行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不會拖欠債務 在最壞情況下, 如果發行人不履行契約, 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 * 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 10

11 條款表 發行人 中國銀行 ( 香港 ) 有限公司 ( 中銀香港 ) 擔保人 不適用 序列號 : 不適用票據號 : 不適用 ISIN 編碼 : USY1391CAJ00 債券類別 評級 ( 評級並不代表建議購買 出售或持有票據, 且可由授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 ( 如有的話 ) 評級資料, 請聯絡滙豐的職員 ) 定息後償票據 發行人評級 :Aa3( 穆迪 )/A+( 標準普爾 ), 截至 2017 年 2 月 2 日 擔保人評級 : 不適用 票據評級 :A3( 穆迪 )/A( 標準普爾 ), 截至 2013 年 12 月 7 日 ( 資料來源 : 彭博資訊 ) 票據構成發行人直接 無擔保及後償的義務, 並在各方面具有同等地位, 沒有任何優先權 於發生後償事件 1 後, 票據持有人在支付權利方面的申請將後償於 ( 根據構成票據之契約 2 所規定之方式 ) 儲戶及所有其他發行人非後償債權人之申請, 並與所有發行人其他後償債務 3 ( 現時或未來 ) 在支付權利方面至少具有同等地位 票據的申請將優先於後償債務持有人 ( 根據其條款, 在支付權利方面次於票據 ) 之申請以及發行人之所有類別的股本證券, 包括優先股 ( 如有 ) 持有人 票據的地位 備註 : 1. 倘就發行人於香港的清盤 清算或解散或類似程序作出一項指示或通過一項有效的決議案, 則發生 後償事件, 惟就重建 合併或重組而言, 其有關條款此前已獲票據持有人決議案 ( 於根據契據正式召開及舉行的會議上獲大多數 ( 至少佔總投票數的 66 2/3 %) 投票通過 ) 批准者除外 2. 票據乃根據發行人 受託人 票據登記處及支付代理之間於 2010 年 2 月 11 日訂立的一項契約設立而成 3. 就上述目的而言, 後償債務 指於發行人進行清盤時, 就存款人及發行人的其他非後償債權人提出的索償作出償付的權利位列次級的全部債務, 且就此而言, 債務須包括所有負債 ( 無論實際的或或有的 ) 發行日期 2010 年 2 月 11 日 到期日期 * 2020 年 2 月 11 日 票息 每年 5.55% 票息頻率 每半年 贖回期權 不適用 11

12 基於稅務理由贖回 誠如構成票據的契約所詳述, 倘發生影響香港稅務之若干變動, 發行人經金管局的事先書面同意, 可選擇於任何時候按其本金金額贖回全部 ( 而非部分 ) 本票據, 連同應計惟未支付的利息 有關進一步詳情, 請參閱發售文件 基於稅務理由提早贖回 因控制權變動贖回因其他特定事件贖回 不適用不適用 發售文件 2010 年 4 月的發售備忘錄貨幣及發行金額 2,500,000,000 美元計息開始日期 2010 年 2 月 11 日面額 100,000 美元及超過部份按 1,000 美元的整數倍計算最小投資額每名投資者 : 100,000 美元到期贖回按面值 (100%) 利息支付日期 * 每年的 2 月 11 日及 8 月 11 日 2010 年 8 月 11 日開始至到期日 ( 包括當日 ) 上市及定價本票據在香港交易所 ( 交易所 ) 上市 ( 倘若閣下希望在作出投資有關本票據價格及成交額 ( 如有 ) 的若干資料可於前獲得更新的 ( 如有的話交易所網站 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 1 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 ; 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 發行人簡介 ( 摘自發售備忘錄第 1 頁 ) 中銀香港為香港主要的商業銀行集團, 其核心商業銀行業務 ( 如存款 住房按揭 企業貸款及銀團貸款 ) 佔據主要的市場份額 中銀香港為香港三家發鈔銀行之一 中銀香港於 2003 年獲中國人民銀行 ( 人民銀行 ) 委任為香港地區人民幣業務的唯一清算行 截至 2009 年 9 月 30 日, 其於香港設有 270 多家分行 470 多部自動櫃員機及其他銷售渠道 並透過這些渠道向個人及企業客戶提供全面的金融產品及服務 與此同時, 中銀香港於中國內地設有 23 家分支行, 為其在香港及中國內地的客戶提供本地及跨境銀行服務 發行人乃香港第二大銀行集團 ( 按資產規模 客戶存款及貸款計 ) 截至 2008 年 12 月 31 日, 其總資產達 11,180 億港元 存款總額達 8,060 億港元及客戶貸款總額達 4,610 億港元 於 2008 年, 其提取減值準備前之淨經營收入為 260 億港元 截至 2009 年 9 月 30 日, 其總資產達 11,970 億港元 存款總額達 8,890 億港元及客戶貸款總額達 5,070 億港元 截至 2009 年 9 月 30 日止九個月, 其提取減值準備前之淨經營收入為 190 億港元 12

13 發行人經營三類主要業務, 包括個人銀行 企業銀行及資金業務 發行人向其個人及企業客戶提供全面的銀行產品及服務 發行人亦於香港提供人民幣銀行產品及服務, 如向其個人客戶提供存款 匯兌 匯款 信用卡及債券分銷服務, 及向其企業客戶提供交易結算及融資服務 發行人聯絡資料 註冊辦事處地址 : 中國銀行 ( 香港 ) 有限公司香港中環花園道 1 號中銀大廈 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 13

14 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, 可能會損失部分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 一家或多家獨立評級機構可能會向發行的票據 發行人及授予信用評級 信用評級可能不會反映票據 發行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 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 本票據具有後償性 發行人的付款責任乃無擔保並為發行人的後償責任 換言之, 在發生任何發行人破產或清盤事件之時, 票據持有人的索償在償付權利方面將落後於且次序將位列 ( 其中包括 ) 非後償債券持有人 ( 如有 ) 提出的索償及發行人的其他非後償債務之後 因此, 在進行清盤程序時, 票據持有人收回的款項可能少於發行人其他非後償債務的持有人 14

15 發行人可發行證券的數額及地位高於或等於本票據的證券的數額不受限制 發行任何該等證券或會削減閣下在發行人清盤的情況下可收回的款項 本票據乃發行人的後償債務 因此, 在發行人清盤時, 未必有足夠的款項用於償付欠本票據持有人的款項 閣下承受的風險將高於發行人的非後償票據持有人 ( 如有 ) 及其他非後償債務, 原因是在發行人破產時索償的優先權較低 ( 惟地位等於或低於本票據的債務的索償除外 ) 本票據支付的票息率可能高於可相比的非後償票據, 然而, 本票據亦可能存在閣下將損失全部或部份投資及將無法收取本金的全部回報或本票據項下應付的任何未償款項的實際風險 請留意集中投資於某個發行人或其附屬集團公司的債券所帶來的風險, 若集團任何一間公司被調低信貸評級有可能為整個集團帶來骨牌效應風險, 另請留意過度集中投資於高風險產品所帶來的風險 請參閱本票據的發售文件, 了解有關發行人及本票據的其他風險因素 15

16 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, 可能會損失部分或全部的投資本金 ; 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 ( 香港灣仔皇后大道東 248 號陽光中心 37 樓 室 ) 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分 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 16

17 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 本文件所載資料並不構成買賣任何證券 商品或本票據之要約 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 17