The Index is designed to track and reflect the stock market performance of companies involved in providing solutions to the challenges of global climate change.

• Click here to obtain more background information on the index.

The Notes may be an appropriate investment for you, if, among other things, you: (1) are looking for safety of principal if held to maturity; (2) want exposure to an investment that is linked to the performance of an index representing companies engaged in climate change-related businesses; (3) want to decrease the effect of both negative and positive changes in the level of the index through the averaging of returns; and (4) you are investing for the longer term.

The Notes do not provide investors with a return or income stream prior to maturity. The effective yield to maturity of the Notes may be less than that which would be payable on a conventional fixed-rate or floating-rate debt instrument. The Notes are generally more suitable for purchasing and holding up to maturity. Potential investors should consult with their own investment, legal and tax advisers to determine the suitability.

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Please see the information statement for further details or contact your investment adviser.

Noteholders should carefully review and consider all risks set forth in the information statement with their investment adviser, including:

• The volatility or degree to which the level of each underlying index changes
• Notes will not constitute insured deposits under Canada Deposit Insurance Corporation Act (Canada)
• The principal amount is protected only if Notes are held to maturity and there is no assurance the Notes will pay any variable return
• No guaranteed secondary market
• Price or other movements in the instruments comprising the indices are unpredictable
• The historical or pro forma performance of each index is not an indication of future performance
• Special circumstances - HSBC may redeem the Notes prior to maturity under certain limited circumstances, including a change in the law, regulation, taxation regulations or taxation practice or other circumstances not within the control of the Bank
• Conflicts of interest with the calculation agent and the index sponsor

Right of rescission - A subscriber may only rescind any order to buy a Note (or its purchase if issued) by notice in writing to HSBC within 48 hours of the earlier of actual receipt and deemed receipt of the information statement. Such notice should be directed to: Senior Vice President, HSBC Derivative Products Group, 70 York Street, 8th Floor, Toronto, ON M5J 1S9. This rescission right does not extend to Noteholders buying a Note in any secondary market.

Amendments to Notes - The global deposit note filed on CDS representing the Notes may be amended without the consent of the holders by the Bank if, in the reasonable opinion of the Bank, the amendment would not materially and adversely affect the interests of the holders. In other cases, the global deposit note may be amended if the amendment is approved by a resolution passed by the favourable votes of the holders of not less than 66.66 per cent of the Notes.

Please see the information statement for further details. Please do not hesitate to call us at 1 866 511 4722 or send us an e-mail for more information.

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