Disclaimer

This document is issued by the following HSBC entities:

• In Canada, this document is issued by HSBC Bank Canada.

• In Mexico, this document is issued by HSBC México, S.A. de C.V., Institución de Banca Múltiple, Grupo Financiero HSBC.

• In the United States, this document is issued by HSBC Bank USA, N.A. Member FDIC. Deposit products are offered in

the United States by HSBC Bank USA, N.A. For more information about FDIC insurance coverage of US deposit accounts, visit www.fdic.gov. Investment and

certain insurance products, including annuities, are offered in the United States

by HSBC Securities (USA) Inc. (HSI), Member NYSE/FINRA/SIPC.

The information contained in this document may include information from third parties who HSBC believe to be reliable

but such information will not have been independently verified by HSBC. All information contained in this document (including without limitation, information about

products, terms and conditions, pricing, forecasts, market influences and HSBC policy) is subject to change from time to time without any obligation on HSBC to

give notice of such change to you. Additionally, the products referenced herein may be subject to credit and other internal approvals and may not be offered

in every market, and other restrictions, including specific country regulations may apply. Foreign currency exchange rates may apply to certain trade finance

transactions contained herein.

Whilst HSBC will try to ensure that the information in this document is current, accurate and complete at the date of publication, it cannot guarantee this and

therefore it makes no representation (express or implied) about the currency, accuracy or completeness of that information. HSBC cannot accept liability for any

direct, indirect or consequential losses arising from the use of or the reliance on the information contained

in this document by any person and such liability is excluded to the maximum extent permitted by law. You are responsible for making your

own evaluation about the products referred to in this document. HSBC recommends that before you make any decision or take any action that might affect you or

your business, you consult with suitably qualified professional advisers to obtain the appropriate financial, legal, accounting, tax or other advice.

© HSBC Holdings plc 2015. HSBC and its logos are registered trademarks in Mexico, Canada and the USA owned

by HSBC Holdings plc. ALL RIGHTS RESERVED.

No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical,

photocopying, recording, or otherwise, without the prior written permission of the issuing HSBC Group affiliate.

This document is intended for informational purposes only and shall not be capable of creating any contractual commitment

on the part of any of the HSBC entities mentioned herein.

Certain products and services may not be offered by the local HSBC affiliate in every country.

HSBC in all instances of this presentation refers to HSBC Bank Canada, HSBC Bank USA, N.A. and HSBC Mexico, collectively.