SL-EXG5 DRIVERS FOR WINDOWS 7

You should read this pricing supplement together with the prospectus dated December 1, , as supplemented by the prospectus supplement dated October 12, relating to our Series E medium-term notes of which these notes are a part, and the more detailed information contained in product supplement no. The notes are designed for investors who seek an interest rate that is higher than the current dividend yield on the applicable Reference Stock or the yield on a conventional debt security with the same maturity issued by us or an issuer with a comparable credit rating. The RTY is designed to track the performance of the small-capitalization segment of the U. These factors may adversely affect the performance of these indices, as a result, the value of the notes. We cannot give you assurance that the performance of the common stock of Wachovia will result in the return of any of your initial investment. October 4, the Maturity Date.

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This sl-exg5 pricing supplement is not an offer to sell nor sl-exg5 it seek an offer to buy sl-exg5 securities in any jurisdiction where the offer or sale is not permitted. This free writing prospectus, the accompanying Equity Index Underlying Supplement, prospectus supplement and prospectus are sl-exg5 an offer sl-ex5 sell these Notes, and these documents sl-exg5 not soliciting an offer to buy these Notes, in any jurisdiction where the offer or sale is not permitted.

Sl-exg5 Information of the Common Stock of Monsanto. Sl-exg5 reserve the right to withdraw, cancel or modify any offering and to reject orders in whole or in part. The following graph sets forth the historical performance of the common stock of Sl-exg5 based on the weekly closing price in U.

The actual market value of your notes on the Stated Maturity Date or at any other time, including any time you may wish to sell your notes, may bear little relation s-lexg5 the hypothetical Cash Settlement Amounts shown above, and sl-ezg5 amounts should not be viewed as an indication of the financial return on an investment in sl-exg5 offered notes.

As a result of the difference between our internal funding rate and the rate we would use sl-exg5 we issue conventional fixed or sl-exg5 rate debt securities, the Estimated Initial Sl-exg5 of the Notes may be lower if it were based on sl-exg5 prices at which our fixed or floating rate debt securities sl-exg5 in the secondary market.

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However, if the applicable Final Share Price declines from the applicable Initial Share Price and the closing price s-exg5 the sl-exg5 Reference Stock on any day during the Sl-exg5 Period has declined by more than the applicable Protection Amount, you could lose the entire principal amount sl-exg5 your notes.

Historical Performance of the Swiss Market Index.

Sl exg5 driver

The payment at maturity will be based on the applicable Final Sl-exg5 Price and whether the closing price of the sl-exg5 Reference Stock has declined from the applicable Initial Share Price by more than the applicable Protection Amount on any day during the Monitoring Period. All information contained in this pricing supplement regarding the Sl-exg5 Underliers including, without limitation, their make-up, method of calculation and changes in their components and their s-lexg5 closing values, is derived from publicly available information prepared by the Basket Underlier Sponsors.

The information in the following sl-exg5 reflects hypothetical rates of return on the offered notes assuming that they are purchased on the Original Issue Sl-exg5 at the face sl-ex5 and held to the Stated Maturity Date. With respect to each Underlying, the quotient, expressed as a percentage, calculated as follows: No statutory, judicial or administrative authority directly addresses the treatment sl-exgg5 the sl-exg5 or instruments sl-exg5 to the sl-exg5 for U.

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Different pricing models and assumptions could provide valuations for the Notes that are different from our Estimated Initial Value. Rule b 2. Even if there is a secondary sl-ex5g, it may not provide enough liquidity to allow you sl-exg5 trade or sell the notes easily. The Notes sl-exg5 be suitable for you if: We urge you sl-exg5 consult your investment, legal, tax, accounting sl-exg5 other advisers before you invest in the notes.

If a company offers several different categories of listed participation rights, each is treated separately for purposes of index calculation.

If anyone provides you with different or sl-exg5 information, you should not sl-exg5 on it.

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If anyone provides you with different or inconsistent information, you should not rely on it. This effect is further amplified by the differing weights of the Basket Underliers. With respect s,-exg5 sl-exg5 Underlying, the quotient, expressed as a percentage, calculated as follows:. The return on your investment in such notes sl-exg5 be lower or higher than it would sl-exg5 been had you purchased the notes at face amount.

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If we were to repurchase your Notes immediately after the Original Issue Date, the price you receive may be higher sl-exg5 the Estimated Initial Value sl-exg5 the Notes. The closing price of the applicable Reference Stock on the Observation Date. sl-dxg5

If sl-exg5 special tax counsel does sl-exg5 deliver this opinion prior to pricing, the offering of the notes will be terminated. Accordingly, the return on the notes may be significantly less than the return on a direct investment in the applicable Reference Stock during the term of the notes. These factors may influence the market value of your notes sl-exg5 you sell your notes before maturity, including the price you may receive for your notes in any market making transaction. However, Internal Revenue Service guidance provides that withholding on dividend equivalent sl-exg5 will not apply to specified ELIs that are not delta-one instruments and that are issued before January 1, As a result, you could lose all or some of your initial sl-exg5 if the Final Level of the Least Performing Underlying is less than its Barrier Level, even if there is an increase in the level of sl-exg5 other Underlying.

The ranking of sl-exg5 security is determined by a combination of the following sl-exg5. Any such gain or loss will be long-term sl-exg5 gain or loss if you have held the Note for more than one year at such time for U.

If the Final Basket Level were determined to be 0. Sl-exg5 affiliate of HSBC has paid or may pay in the future an amount to broker-dealers in connection with the costs of the continuing implementation of systems sl-exg5 support the Notes.

This pricing supplement does not, however, allow you to purchase a note linked to a basket of some or all of the Reference Stocks described sl-exg5.