Date*: The Government of the Hong Kong Special Administrative Region of the People s Republic of China (the "HKSAR Government"). Issue of HKD 10,000,000,000 ibond Series Floating Rate Note due July 2014 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. This Note is NOT equivalent to a time deposit. Issuer's risk - This Note is subject to both the actual and perceived measures of credit worthiness of HKSAR Government. 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 note. Additional risks are disclosed in the section of Risk Factor below. Please refer to it for details. WARNING The contents of this document 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. * If you receive this termsheet via email, the date of the termsheet is the date as stated on the email to which it is attached. If you receive this termsheet via fax, the date of the termsheet is the date as stated on the document header or on the cover letter which accompanies the termsheet. If you are viewing this termsheet over the internet, the date of the termsheet is the date as stated on the webpage to which it is shown.
Termsheet Issuer: Guarantor: Type: Rating (Moody s / S&P): 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 Issue Date & Interest Commencement Date Maturity Date: Coupon: The Government of the Hong Kong Special Administrative Region of the People s Republic of China (the HKSAR Government ) None Series No: N/A Floating Rate Unsecured Note Note s rating: 28/07/2011 (DD/MM/YYYY) Tranche No: N/A ISIN Code: 03GB1407R N/A (Moody s) / N/A (S&P), as at 07 December 2013 28/07/2014 (DD/MM/YYYY) The interest rate for each interest payment date will be determined and announced on the relevant interest determination date as the higher of: (i) the floating rate, being the arithmetic average of the year-on-year rates of change in the 2009/10-based Composite Consumer Price Index for the 6 most recent preceding months, rounded to the nearest two decimal places; and (ii) the fixed rate of 1.00%, Coupon frequency: per annum, payable every 6 months in arrear. Semi-Annual Retail bonds are direct, unsecured, unconditional and general obligations of HKSAR Government and rank pari Status of the Note: passu with all other unsecured indebtedness of HKSAR Government incurred for the general revenue from time to time outstanding and without preference for one over the other by reason of priority of date of issue or otherwise. Structure: Plain vanilla Currency & Amount of the issue: HKD 10,000,000,000 Denomination: HKD 10,000 Minimum Investment Amount: Per investor : HKD 10,000 Redemption at maturity: At par (100%) Interest Payment Dates(s): 28 th January and July every year commencing on 30 th January 2012 Business Day Convention: Modified Following business day convention
Apply To: Day Count Fraction: Business Days: Listing and Pricing Interest Payment Dates, Maturity Date Actual/365 Hong Kong This Note is listed on The Stock Exchange of Hong Kong Limited ( the Exchange ). The historical prices of this Note including but not limited to the closing price on the last trading day immediately preceding (a) this offer, and (b) 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, which are required by Securities and Futures Ordinance Schedule 7 Part 2 Section 1 (b), (c), and (d), are available on the Exchange website at http://www.hkex.com.hk/eng/invest/company/quote_ page_e.asp?widcoid=4208&widcoabbname=&m onth=1&langcode=e and http://www.hkex.com.hk/eng/invest/company/chart_p age_e.asp?widcoid=4208&month=6&langcode=e For the sake of information completeness, integrity and timeliness, the information stated in the above paragraph which is required to be provided under SFO Schedule 7 is not included/replicated in this document, however a printed copy and Chinese version of such materials is available upon request. Use of Proceeds: Issuing Agent and Paying Agent: There has been no public announcement in relation to this offer All sums raised under the retail bond programme will be credited to the bond fund, a discrete fund of HKSAR Government. HKSAR Government intends that the bond fund will not be treated as part of the fiscal reserves and will be managed separately from the general revenue. The bond fund will be used to repay principal of and pay interest on the retail bonds and the institutional bonds, meet the financial obligations and liabilities associated with the retail bond programme and the institutional bond programme and make investments. If there is a positive balance in the bond fund after all financial obligations and liabilities are met in relation to the retail bond programme and the institutional bond programme, the surplus funds will be transferred to the general revenue. Any shortfall of funds for fulfilling the financial obligations and liabilities of HKSAR Government under the retail bond programme or the institutional bond programme will be financed from the general revenues and assets of HKSAR Government. Hong Kong Monetary Authority
Clearing: Law: Description of Issuer : Central Moneymarkets Unit (CMU) Hong Kong On 1 July 1997 Hong Kong became a Special Administrative Region of the People s Republic of China in accordance with Article 31 of the Constitution of the People s Republic of China. The reunification of Hong Kong with the People s Republic of China (the PRC) is a consequence of an agreement between the Government of the United Kingdom of Great Britain and Northern Ireland and the Government of the People s Republic of China, as embodied in the Sino-British Joint Declaration on the Question of Hong Kong (the Joint Declaration) signed on 19 December 1984 and subsequently ratified by both governments. Hong Kong maintains one of the world s most open economies and a business-friendly environment characterised by a relatively high degree of free trade and free flow of information, an established financial regulatory regime and legal system and a developed transportation and telecommunications infrastructure. In 2010, Hong Kong was ranked the tenth largest trading entity in the world by the World Trade Organization based on value of total merchandise trade and is home to the third busiest container port in the world in terms of throughput. Contact Information of Issuer Fees & Charges Stamp Duty Over the past two decades, the Hong Kong economy (as measured by GDP) has more than doubled in size, with GDP growing at an average annual rate of 4.0% in real terms. In 2010, Hong Kong s GDP at current market prices reached HK$1,744 billion and its per capita GDP of US$31,800 was amongst the highest in Asia. Place of Hong Kong Incorporation: Registered Office Address: Hong Kong Monetary Authority 55/F, Two International Finance Centre 8 Finance Street, Central, Hong Kong Telephone number: +852 2878 1731 Safe Custody Waived Interest Collection Waived Redemption at Maturity Waived No Hong Kong stamp duty is payable on the purchase of the Notes
Risk Factors There are investment risks involved in buying the Note. Before applying for any of the Note, you should consider whether the Note is suitable for you in light of your own financial circumstances and investment objectives. If you are in any doubt, get independent professional advice. The Note is mainly for medium to long term investment, not for short term speculation. You should be prepared to invest your funds in the Note for the full investment tenor; you could lose part or all of your investment if you choose to sell the Note prior to maturity. It is the issuer to pay interest and repay principal of the Note. If the issuer defaults, the holder of the Note may not be able to receive back the interest and principal. The holder of the Note bears the credit risk of the issuer and has no recourse to HSBC unless HSBC is the issuer itself. Indicative price of the Note are available and the Note s price do fluctuate when market changes. Factors affecting market price of the Note include, and are not limited to, fluctuations in Interest Rates, Credit Spreads, and Liquidity Premiums. The fluctuation in yield generally has a greater effect on prices of longer tenor bonds. There is an inherent risk that losses may be incurred rather than profit made as a result of buying and selling the Note. If you wish to sell the Note, HSBC may repurchase it based on the prevailing market price under normal market circumstances, but the buying price may differ from the original selling price due to changes in market conditions. There may be exchange rate risks if you choose to convert payments made on the Note to your home currency. The secondary market for the Note may not provide significant liquidity or may trade at prices based on the prevailing market conditions and may not be in line with the expectations of the Note holders. If the Note is early redeemed, you may not be able to enjoy the same rates of return when you re-invest the funds in other investments Investor s Commitment and Acknowledgements When you place your order for the Note, you are deemed to make a series of confirmations and acknowledgements, including that you: (i) (ii) (iii) have read and understood this Term Sheet, including the risks of investing in the Note as explained in the section Risk Factors ; understand that you should refer to the Offering Circular and pricing supplement, which are available upon request, for further details on the terms of the Note and risks involved; confirm that you are prepared to invest your funds in the Note for the full investment tenor; you could also lose part or all of your investment if you choose to sell your Note prior to maturity.
(iv) 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. 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 us on (852) 2233 3000, or write to the Quality Service Management Department, P.O. Box No. 71169, Kowloon Central Post Office, or send an email 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, and 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 listed 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. Disclaimer The Hongkong and Shanghai Banking Corporation Limited ( HSBC ) has issued 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 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: +852 2996 6730, Member HSBC Group
日期 *: 中華人民共和國香港特別行政區政府 ( 香港特區政府 ) 發行 10,000,000,000 港元通脹掛鈎債券系列浮動利率債券 2014 年 7 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 本票據表現受香港特區政府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, 如果發行者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 部份將列出其他風險因素, 詳情請參閱有關部份 警告 本文件的內容未經在香港的規管當局審核 你應就有關要約謹慎行事 如你對本文件的任何內容有任何疑問, 你應尋求獨立專業意見 重要提示如你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 * 倘閣下通過電子郵件收到本條款表, 條款表日期即隨附郵件所示的日期 倘閣下通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 倘閣下通過互聯網瀏覽本條款表, 條款表日期即為條款表所在網頁所示的日期
發行人 : 擔保人 : 條款表 中華人民共和國香港特別行政區政府 ( 香港特區政府 ) 無 序列號 : 不適用 票據號 : 不適用 ISIN 編碼 : 03GB1407R 類別 : 浮息無抵押票據評級 ( 穆迪 / 標準普爾 ): 評級並不建議購買 出售或持不適用 ( 穆迪 )/ 不適用 ( 標準普爾 ) 票據評級 : 有證券, 且可由授予評級之機構, 截至 2013 年 12 月 7 日隨時終止 更改或撤銷 發行日期及計息開始日期 : 28/07/2011 ( 日 / 月 / 年 ) 到期日期 : 28/07/2014 ( 日 / 月 / 年 ) 每一個付息日的息率將於相關的利息釐定日, 釐定和公布為下列較高者 : (i) 浮息, 即最近 6 個月公布, 以 2009/10 年為基期的綜票息 : 合消費物價指數按年變動率的算術平均值 ( 準確至小數點後兩個位 ); 及 (ii) 定息, 即 1.00% 該息率為年息率, 而利息將於每 6 個月期末支付 票息頻率 : 每半年 零售債券為香港特區政府的直接 無抵押 無條件及一 般債項 零售債券與香港特區政府不時就一般收入而產 票據的地位 : 生且仍未清還的所有其他無抵押債項享有同等權益, 並 且不會出現因發行日期之先後或其他原因而致使某一債 項較另一債項優先的情況 結構 : 普通債券 貨幣及發行金額 : 10,000,000,000 港元 面額 : 10,000 港元 最小投資額 : 每位投資者 :10,000 港元 到期贖回 : 按面值 (100%) 利息支付日期 : 自 2012 年 1 月 30 日起每年 1 月 28 日及 7 月 28 日開始 營業日慣例 : 經修訂的緊隨營業日慣例 適用於 : 利息支付日期, 到期日期 計息日期慣例 : 實際天數 / 365 營業日 : 香港 上市及定價 : 本票據於香港聯交所 ( 交易所 ) 上市 證券及期貨條例附表 7 第 2 部第 1(b) (c) 及 (d) 節要求提供的本票據之歷史價格包括但不限於, 緊接 (a) 本發售及 (b) 緊接本發售前 6 個月各個月之最後一個交易日之收市價, 以及最後 6 個月期間之最高及最低收市價, 有關資料載於交易所網址 http://www.hkex.com.hk/chi/invest/company/quot e_page_c.asp?widcoid=4208&widcoabbname=&mont
h=1&langcode=c 及 http://www.hkex.com.hk/chi/invest/company/char t_page_c.asp?widcoid=4208&month=6&langcode=c, 可供公眾查閱 為確保所載資料的完整 完全及時效性, 上段所述的證券及期貨條例附表 7 要求提供的資料並未載於 / 復製至本文件, 惟可申請獲取該等材料的印刷本及中文版本 所得款項用途 : 發行代理及支付代理 : 結算 : 法律 : 發行人簡介 : 概無就本發售刊發任何公開公告 零售債券計劃下所得的款項將被撥入債券基金 債券基金是一個由香港特區政府持有的獨立基金 債券基金不會作為政府財政儲備的一部分, 並會與政府的一般收入分開處理 債券基金將用作償還零售債券和機構債券的本金和利息 履行與零售債券計劃和機構債券計劃有關的財務上的義務和法律責任 以及作出投資 如在履行了所有與零售債券計劃和機構債券計劃有關的財務上的義務和法律責任後, 債券基金尚有結餘款項, 有關的結餘款項將撥歸政府的一般收入中 如結餘款項不足以履行有關零售債券計劃和機構債券計劃的財務上的義務和法律責任, 則不足之數可以從香港特區政府的一般收入及資產中撥付 香港金融管理局 債務工具中央結算系統由 (CMU) 香港 於一九九七年七月一日, 香港根據 中華人民共和國憲法 第三十一條成為中華人民共和國的特別行政區 香港回歸中華人民共和國 ( 中國 ) 是基於大不列顛及北愛爾蘭聯合王國政府與中華人民共和國政府訂立的一份協議 該份協議收錄由雙方政府於一九八四年十二月十九日簽訂並在其後經中英政府確認的 關於香港問題的中英聯合聲明 ( 聯合聲明 ) 內 香港擁有全球最開放的經濟之一及友善營商環境, 其特色是相對高度自由的貿易及資訊流通 已確立的金融監管制度和法律制度, 以及發展完善的交通及電訊基建 於二零一零年, 根據世界貿易組織的排名, 按商品貿易總額計算, 香港是全球第十大貿易實體 ; 同年, 香港的貨櫃碼頭吞吐量位列全球第三大 發行人聯絡資料 : 在過去二十年, 香港的經濟規模增長超過一倍 ( 以本地生產總值計算 ), 本地生產總值每年平均實質增長為 4.0% 於二零一零年, 香港的本地生產總值按當時市價計算達到 17,440 億港元, 而人均本地生產總值為 31,800 美元, 是亞洲區內人均本地生產總值最高的經濟體系之一 註冊成立香港地址 :
服務收費 印花稅 註冊辦事處地址 : 香港金融管理局香港中環金融街 8 號國際金融中心二期 55 樓 +852 2878 1731 聯絡電話 : 託管服務豁免代收利息豁免到期贖回豁免購買本票據無須支付香港印花稅 風險因素 本票據涉及投資風險 在投資於本票據之前, 投資者應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 本票據主要提供中長期的投資, 並不是短線投機的工具 你應準備於整段投資期內將資金投資於本票據上 ; 若你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 本票據的利息和本金是由發行者去償還, 票據持有人須承擔發行者的信貸風險 如果發行者不履行契約, 票據持有人可能無法取回本票據的利息和本金 在此情況下, 票據持有人不能向滙豐追討任何賠償, 除非滙豐本身為該票據之發行者 滙豐提供本票據的參考價格, 其價格可能會及確會波動 影響本票據價格的因素包括, 但不限於, 利率, 債券息差及流通性溢價的波動 而孳息率的上落對越長年期的債券價格影響一般較大 買賣債券帶有風險, 投資者未必能夠賺取利潤, 可能會招致損失 如你打算出售經滙豐代您購入的票據, 滙豐可在正常市場下, 按市價進行有關交易 但基於市場變動, 買入價與原定的賣出價可能不同 倘若你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 發行人提供的二手市場或不能提供龐大的流通量或按對持有人有利之價格買賣 如本票據被提早贖回, 您轉而投資於其他投資項目, 未必能取得相同回報 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) 已閱讀及理解本條款概要內, 包括 風險因素 部分所說明的有關投資本票據的風險 ;
(ii) (iii) (iv) 明白應參閱可向滙豐索取的發售通函及發行日後訂定的定價補充文件, 以便獲得本票據的進一步資料 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 在投資票據後, 怎樣查詢票據的市值? 您可聯絡滙豐在香港的各分行查詢票據的市值 注意:如您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)-2233 3000 致函我們的優質服務管理部 ( 九龍中央郵政局郵政信箱 71169 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 若您對投訴結果仍有不滿, 可向香港金融管理局的銀行服務投訴組提出書面投訴, 地址為香港中環金融街 8 號國際金融中心 2 期 55 樓 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上市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 免責聲明香港上海滙豐銀行有限公司 ( 滙豐 ) 刊發本文件 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相應而生之損失接納任何責任 謹請注意, 上述利率及價格乃僅供參考, 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, 於證券及期貨事務監察委員之中央註冊編號為 AAA523 註冊辦事處 : 香港皇后大道中 1 號電話 :+852 2996 6730, 滙豐集團成員