These companies tend to have smaller revenues, less diverse product lines, smaller shares of their product or service markets, fewer financial resources and competitive strengths than large-capitalization companies, and are more susceptible to adverse developments related to their products. Driver may in canon b cho win 7. If the Official Closing Price of the Reference Asset is less than the Coupon Trigger on each of the Coupon Determination Dates, we will not pay you any Contingent Coupons during the term of, and you will not receive a positive return on, your notes. Pursuant to the terms of the notes, you agree to treat the notes under this approach for all U. If the terms of the notes offered hereby are inconsistent with those described in the accompanying prospectus supplement, prospectus or Equity Index Underlying Supplement, the terms described in this pricing supplement shall control. If one or more of the entities whose stock is included in, or owned by, the Reference Asset, as the case may be, were so treated, certain adverse U. Any payment to be made on the notes, including any return of principal at maturity, depends on the ability of HSBC to satisfy its obligations as they come due.
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The notes may be suitable for you if:. The Contingent Coupon Rate will be 6. Your return on the notes xdlo limited to the principal amount plus the Contingent Coupons, if any, regardless of any appreciation in the value of the Reference Asset.
As a result, the actual and perceived creditworthiness of HSBC may affect the market value of the notes and, in the event HSBC were to default on its obligations, you may not receive the amounts owed to you under the terms of the notes. The notes are not insured or guaranteed by any governmental agency of the United States or any other jurisdiction. The quotient, expressed as a percentage, calculated as follows: The Estimated Initial Value reflects the implied borrowing rate we use to issue market-linked securities, as well as the mid-market value of the embedded derivatives in the notes.
M8p62 notes may not be suitable for you if:. Historical Performance of the RTY.
The level of the Reference Asset increases from aslo Initial Level of 1, The Estimated Initial Value of the notes is less than the price you pay to purchase the notes. You should not take this illustration or these examples as an indication or assurance of the expected performance of the Reference Asset or the return on your notes.
Investing in the notes is not equivalent pm862 investing directly in any of the stocks comprising the Reference Asset. You mmp862 be subject to significant risks not associated with conventional fixed-rate or floating-rate debt securities. The Estimated Initial Value does not represent a minimum price at which we or any of our affiliates would be willing to purchase your notes in the secondary market if any exists at any time.
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However, this withholding tax will not be imposed on payments pursuant to obligations outstanding on July 1, If the Official Closing Price of the Reference Asset is less than the Coupon Trigger on each of the Coupon Determination Dates, we will not pay you any Contingent Coupons during the term of, and you will not receive a positive return on, your notes.
Any sale of the notes prior to maturity could result in a loss to you. The following examples assume the following:. Stock prices of small-capitalization companies may also be more vulnerable than those of larger companies to adverse business and economic developments, and the stocks of small-capitalization companies may be thinly traded, making it difficult for the RTY to track them.
If the terms of the notes offered hereby are inconsistent with those described in the accompanying prospectus supplement, prospectus or Equity Index Underlying Supplement, the terms described in this pricing supplement shall control.
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You should not, under any circumstances, assume that the information in this pricing supplement, the accompanying Equity Index Underlying Supplement, prospectus supplement and prospectus is correct on any date after their respective dates.
Because there are no statutory provisions, regulations, published rulings or judicial decisions addressing the characterization for U. These pricing models consider certain assumptions and variables, which can include volatility and interest rates.
We will not necessarily make periodic coupon payments on the notes. Investment in the notes involves certain risks. This pricing supplement, the accompanying Equity Index Underlying Supplement, prospectus supplement and prospectus are not an offer to sell these notes, and these documents are not soliciting an offer to buy these notes, in any jurisdiction where the offer or sale is not permitted.
Holders are urged to consult with their own tax advisors regarding the possible implications of this recently enacted legislation on their investment in the notes. Amount of Registration Fee 1. This pricing supplement relates to a single offering of Contingent Income Barrier Notes. You should consider carefully whether the notes are suitable to your investment goals.
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The payments on the notes may be less than the amount that you would have received from a conventional debt security with the same stated maturity, including those issued by HSBC. Pursuant to the approach discussed above, we intend to treat any gain or loss upon maturity or an earlier sale, exchange or call as capital gain or loss in an amount equal to the difference between the amount you receive at such time other than with respect to a Contingent Coupon and your tax basis in the note.
Unless we or our agent informs you otherwise in the confirmation of sale, this pricing supplement is being used in a market-making transaction.