Walker Crips UK Step Down Kick Out Plan – HS632

HSBC Bank plc “HSBC”, https://www.evolve.hsbc/priips/, Call +44 (0) 20 7992 8300 for more information

The aim is for you to receive from HSBC the relevant Payment  Amount on the Maturity Date or on any earlier date on which the  product terminates. In exchange for the potential to receive the  Payment Amount, you accept the risk of loss of some or all of  your investment.

The product entitles you to receive a single payment on the  Maturity Date or on any earlier date on which the product  terminates and no interest payments will be made while you hold  the product. The amount you will receive depends directly on the  performance of the Underlying(s). The amount of such payment  is determined by referencing the performance of Preference  Shares which are directly linked to the Underlying(s). Therefore,  for ease of explanation of the objective of the product, the product is described in this document as being linked to the  underlying(s). However, you are not purchasing any right in the  Underlying(s) or the Preference Shares, nor in any asset forming  part of the Underlying(s), including any entitlements to  dividends. The product has a fixed lifespan and will terminate on  the Maturity Date unless certain events occur, in which case it  will terminate early and in either case, you may lose some or all of the amount you invested.

Early Termination – Autocall: The product will terminate early if,  on one of the Early Termination Valuation Dates, the Reference  Level of the Underlying is at or above the Autocall Level. If this  occurs, you will receive the relevant Payment Amount on the  corresponding Early Termination Payment Date.

Payment on the Maturity Date: If the product has not terminated  early, it will terminate on the Maturity Date. Depending on the  Closing Value of the Underlying on the Final Valuation Date and  if a Barrier Event (as described below) has occurred or not, you  will receive one of the following possible payments on the  Maturity Date:

– If the Closing Value of the Underlying is at or above Autocall  Price, you will receive the final Payment Amount.

– If the Closing Value of the Underlying is less than the Autocall  Price, you will receive:

• 100% of the Denomination if a Barrier Event has not occurred; –
• otherwise, an amount equal to the Denomination multiplied by  the value obtained by dividing the Closing Value by the Strike  Value. In such circumstances, the amount you receive back (if  any) may be significantly less than the amount you invested and  you could lose your entire investment.

A Barrier Event will occur if the Closing Value of the Underlying  is below the Barrier Value on the Final Valuation Date.

Initial Value: The price(s) set out for the Underlying(s) in the  table below, such price(s) being the Closing Value for such  Underlying(s) on the Strike Date.

Closing Value : The closing level of an Underlying, as published  on the relevant exchange or by the relevant index sponsor (as the  case may be).

Reference Level: The value (expressed as a percentage) obtained  by dividing the Closing Value of an Underlying on the relevant  Early Termination Valuation Dates or Final Valuation Date (as  the case may be) by its Initial Value.

The product terms may be adjusted or the product may terminate early following the occurrence of certain events (such as a tax or  illegality event or an event of default or certain events in respect  of the Underlying(s)). More details on this can be found in the  terms and conditions of the product (see “Other relevant  information” in the key information document). If the product is  terminated early, the amount repayable may be less than the  amount you invested and you could lose your entire investment.

This product is aimed at retail clients who are (i) informed  investors with ability to understand relevant financial  instruments, or who hold a number of investment holdings in  relevant financial instruments; or have frequent trading activity  in relevant financial instruments or (ii) investors with at least a  basic knowledge of relevant financial instruments who are  receiving professional financial advice in connection with an  investment in the product. This product may be generally compatible for investors who have one or more of the following  needs and objectives: capital growth over time. This product is  aimed at retail clients who are willing to bear a complete loss of  capital and prefer a long term investment period greater than 5  years. On a scale of risk ranging from 1 (security-orientated; very low to low return) to 7 (very high risk tolerance; highest return)  this product falls into risk category 4. This means that investors  should have a balanced perspective.