| Issued by HSBC Bank plc, Global Markets, 8 Canada Square, London, E14 5HQ which is a member of the HSBC Group and is authorised and regulated by the Financial Services Authority. Any member of the Group, together with their directors, officers and employees may have traded for their own account as principal, underwritten an issue within the last 36 months, or have a long or short position in any related instrument mentioned in this material. Spot and forward foreign exchange transactions generally are not 'designated investments' as defined in the United Kingdom Financial Services and Markets Act 2000 (the Act) and therefore do not benefit from the protections of the Act and in the Rules of the Financial Services Authority. Any other product described in this document (including a forward extra, forward extra plus, fading forward extra, participating forward or walk away forward contract) is a 'designated investment' as defined in the Act, even when used to cover a commercial trade position. Hedging instruments, such as caps or options, even when used to cover a commercial position, are investments under the UK's Financials Services and Markets Act 2000. We are therefore obliged to warn you that these instruments are not readily realisable investments; it may also be difficult to obtain reliable information about their value or the extent to which they are exposed. Their value may also fluctuate. Investments can fluctuate in price or value and prices, values or income may fall against an investor's interests. Changes in rates of exchange and rates of interest may have an adverse effect on the value, price or income of these investments. Past performance is not necessarily a guide to future performance. The levels and bases of taxation can change. Derivatives can be utilised for the management of investment risk. However, derivative instruments may not be suitable for all investors, as they may be contingent liability transactions such as swaps, so therefore please seek advice. This means that the investor may not only lose all the amount invested, but may also have to pay an additional sum at a later date. Compliance reference number 06-126 HSBC Bank plc, Global Markets, 8 Canada Square, London E14 5HQ |
