Important information

Important information applicable to the content of this video

This is a marketing communication issued by HSBC Private Bank (UK) Limited on behalf of HSBC Private Bank; it should not be considered as 'impartial' and is not subject to any prohibition on dealing ahead of its distribution.

HSBC Private Bank is the principal private banking business of the HSBC Group. Private Bank Services may be carried out internationally by different HSBC legal entities according to local regulatory requirements. Different companies within HSBC Private Bank or the HSBC Group may provide the services listed in this video. Some services are not available in certain locations.

This video is provided to you for your information purposes only and should not be relied upon as investment advice. This video is not offering securities, furthermore, this video does not constitute the solicitation of an offer to purchase or subscribe for any investment, instrument or service in any jurisdiction where, or from any person in respect of whom, such a solicitation of an offer is unlawful.

The information contained within this video has not been reviewed in light of your personal circumstances and should not be relied upon in substitution for the exercise of independent judgement. If you have concerns about any investment or are uncertain about the suitability of an investment decision, you should contact your Relationship Manager or seek such financial, legal or tax advice from your professional advisers as appropriate. Market data quoted or shown in this video are sourced from Bloomberg unless otherwise stated. While this information has been prepared in good faith including information from sources believed to be reliable, no representation or warranty, expressed or implied, is or will be made and no responsibility or liability is or will be accepted by HSBC Private Bank (UK) Limited or any part of the HSBC Group or by any of their respective officers, employees or agents as to or in relation to the accuracy or completeness of the information contained in this video. The information stated, opinions expressed and estimates given constitute HSBC Private Bank's best judgement at the time of publication and do not necessarily reflect the opinions and views of other market participants or other members of the HSBC Group. HSBC Private Bank is under no obligation to keep this information current or update it.

It is important to note that the capital value of, and income from, any investment may go down as well as up and you may not get back the full amount invested. Past performance is not a reliable indicator of future performance. When an investment is denominated in a currency other than your local or reporting currency, changes in exchange rates may have an adverse effect on the value of that investment. There is no guarantee of positive trading performance.

Investors in Hedge Funds and Private Equity should bear in mind that these products can be highly speculative and may not be suitable for all clients. Investors should ensure they understand the features of the products and fund strategies and the risks involved before deciding whether or not to invest in such products. Such investments are generally intended for experienced and financially sophisticated investors who are willing to bear the risks associated with such investments, which can include: loss of all or a substantial portion of the investment; increased risk of loss due to leveraging, short-selling, or other speculative investment practices; lack of liquidity in that there may be no secondary market for the fund and none expected to develop; volatility of returns; prohibitions and/or material restrictions on transferring interests in the fund; absence of information regarding valuations and pricing; delays in tax reporting; key man and adviser risk; limited or no transparency to underlying investments; limited or no regulatory oversight; and less regulation and higher fees than mutual funds. Investments in commodities may involve substantial risk, as the price of the commodity may fluctuate significantly.

Some HSBC Offices listed may act only as representatives of HSBC Private Bank, and are therefore not permitted to sell products and services, or offer advice to customers. They serve as points of contact only. Further details are available on request.

In the United Kingdom, this video has been approved for distribution by HSBC Private Bank (UK) Limited whose office is located at 78 St James's Street, London SW1A 1JB. In the UK HSBC Private Bank is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Private customers should be aware that the rules and regulations made under the Financial Services and Markets Act 2000 for the protection of investors, including the protection of the Financial Services Compensation Scheme, do not apply to investment business undertaken with the non-UK offices of the HSBC Group.

In Guernsey, HSBC Private Bank (C.I.) Limited is regulated by the Guernsey Financial Services Commission to conduct Banking and Investment Business. HSBC Private Bank (C.I.) Limited, Jersey Branch is regulated by the Jersey Financial Services Commission to conduct banking, investment and insurance mediation business.

In Switzerland, HSBC Private Bank (Suisse) SA is a licensed bank regulated by the Swiss Financial Market Supervisory Authority.

In Israel, HSBC Bank plc is licensed as a foreign bank regulated by the Bank of Israel, and as a marketer of financial assets, regulated by the Israel Securities Authority. Not all the investment products/financial assets that are mentioned in these marketing materials are approved for sale in Israel. For further information please refer to your Relationship Manager.

In Luxembourg, HSBC Private Bank (Luxembourg) SA is located at 16 boulevard d'Avranches PO BOX 733, L-2017 Luxembourg and is regulated by the Commission de Surveillance du Secteur Financier.

In Monaco, HSBC Private Bank (Monaco) SA, Société Anonyme Monégasque is located at 17 avenue d'Ostende, MC 98000 Monaco and is regulated by the Banque de France. HSBC Bank Middle East Limited, Dubai International Financial Centre Branch is regulated by the Dubai Financial Services Authority (DFSA). This marketing material is directed at professional clients whom HSBC Bank Middle East Limited is satisfied meet the regulatory criteria of a professional client under the DFSA rules and should not be acted upon by any other person.

In UAE, this video is distributed by HSBC Bank Middle East Limited, DIFC Branch Level 3, Precinct Building 4, PO Box 506553.

In Hong Kong, HSBC Private Bank offers private banking services through The Hongkong and Shanghai Banking Corporation Limited which is regulated by the Hong Kong Monetary Authority. THE CONTENTS OF THIS DOCUMENT HAVE NOT BEEN REVIEWED BY ANY REGULATORY AUTHORITY IN HONG KONG.

In Singapore, HSBC Private Bank offers private banking services through The Hongkong and Shanghai Banking Corporation Limited, Singapore Branch which is regulated by the Monetary Authority of Singapore.

In China, HSBC Private Bank offers private banking services through HSBC Bank (China) Company Limited which is regulated by the China Banking Regulatory Commission. HSBC Private Bank is the marketing name for the principal private banking business of the HSBC Group.

HSBC Bank Bermuda Limited is a member of the HSBC Group. In Bermuda, HSBC Bank Bermuda Limited, whose office is located at Compass Point, 9 Bermudiana Road, Hamilton HM11, is licensed to conduct investment business by the Bermuda Monetary Authority.

In Mexico, HSBC Private Bank offers banking services through HSBC México S.A., Institución de Banca Múltiple, Grupo Financiero HSBC, properly authorised and regulated by the National and Banking Commission and Central Bank.

For clients receiving this from the USA: This document was prepared by HSBC Private Bank (UK) Limited for use by members of the HSBC Global Private Banking business. In the USA, HSBC Private Bank offers banking services through HSBC Bank USA, N.A. (Member FDIC) and HSBC Private Bank International, and provides securities and brokerage services through HSBC Securities (USA) Inc., (Member NYSE/FINRA/SIPC), a registered Futures Commission Merchant, a wholly owned subsidiary of HSBC Markets (USA) Inc. and an indirectly wholly owned subsidiary of HSBC Holdings plc. Foreign securities carry special risks, such as exposure to currency fluctuations, less developed or less efficient trading markets, political instability, a lack of company information, differing auditing and legal standards, volatility and, potentially, less liquidity. Investments, securities and insurance products are: not a deposit or other obligation of the bank or any affiliates; not FDIC insured or insured by any federal government agency of the United States; not guaranteed by the bank or any of its affiliates; and are subject to investment risk, including possible loss of principal invested.

A complete list of private banking entities is available on our website, www.hsbcprivatebank.com.

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 HSBC Private Bank (UK) Limited.

If you are reviewing this site from other countries and need information, please contact the HSBC bank in your country of residence.

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© Copyright HSBC Private Bank (Monaco) SA 2013
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