General Terms and Conditions

1. All offers under this promotion are provided subject to the prevailing regulatory requirements.
2. The Hongkong and Shanghai Banking Corporation Limited, Hong Kong (the “Bank”) reserves the right to change these Terms and Conditions at any time and the offer may be withdrawn by the Bank at its discretion without prior notice.
3. Where there is any discrepancy between the Chinese and English versions of these terms and conditions, the English version shall apply and prevail.
4. In the event of a dispute arising out of this promotion, the decision of the Bank shall be final and conclusive.
5. All the terms and conditions listed are governed by and construed in accordance with the laws of HKSAR.

Promotional Terms and Conditions
$0 Brokerage Fee Offer for U.S. Stocks (the "Offer ")

1. The Offer is effective from 1 January 2012 to 31 December 2012, both dates inclusive (the "Promotional Period").
2. The Offer is only applicable to the sole or principal account holders of HSBC Integrated Investment Services Account with account suffix 380 who successfully activate the U.S. stock trading service during the Promotional Period  (the "Eligible Customers") (the "Eligible Investment Account"). 
3. Customer who is currently holding or has terminated any HSBC Integrated Investment Services Account activated with the U.S. stock trading service within six months prior to the specific dates listed in the below table will not be eligible to this Offer:

Eligible Investment Account opening date	Six months prior to below specific dates
1 January 2012 – 31 March 2012	1 January 2012
1 April 2012 – 30 June 2012	1 April 2012
1 July 2012 – 30 September 2012	1 July 2012
1 October 2012 – 31 December 2012	1 October 2012

4. The Offer is a brokerage fee waiver applicable to U.S. stocks transactions which are effected via HSBC Stock Express (www.hsbc.com.hk/stockexpress), HSBC Mobile Banking (www.hsbc.com.hk) or HSBC Manned Phonebanking Service (for HSBC Premier and HSBC Advance customers only) through the Eligible Investment Account within 30 calendar days upon its U.S. stock trading service activation date (the "Eligible Period ") (the "Eligible Transactions").  The U.S. stock trading service activation date is the later date between the creation dates of W-8BEN Form and NYSE Market Data Agreement according to the Bank record.
5. Eligible Customers will enjoy $0 brokerage fee for all Eligible Transactions until the total cumulative standard brokerage fee reaches (a) HK$5,000 for HSBC Premier Eligible Customers, (b) HK$2,500 for HSBC Advance Eligible Customers or (c) HK$1,250 for SmartVantage Eligible Customers.  All subsequent transactions will be subject to standard brokerage fees (minimum brokerage fee per transaction for the first 1,000 shares: HSBC Stock Express / HSBC Mobile Banking – US$18; HSBC Manned Phonebanking Service – US$38).
Example (HSBC Premier Eligible Customer):
The Eligible Customer has successfully activated the U.S. stock trading service of an Eligible Investment Account on 2 April 2012 and conducts the following Eligible Transactions during the Eligible Period:

Trade date	Transaction Channel	No. of shares	Standard brokerage fee	Waived brokerage fee
5 Apr 2012	Stock Express	30,000	US$453 x $7.8 = HK$3,533.4	HK$3,533.4
20 Apr 2012	Manned Phonebanking	20,000	US$323 x $7.8 = HK$2,519.4	HK$1,466.6 (subject to cap)
25 Apr 2012	Mobile Banking	500	US$18 x $7.8 = HK$140.4	n/a (over cap)
11 May 2012	Manned Phonebanking	800	US$38 x $7.8 = HK$296.4	n/a (not within Eligible Period)
Total		51,300	HK$6,489.6	HK$5,000

6. The standard brokerage fees will be deducted upfront and the portion of waived brokerage fees will be reimbursed to the settlement account of Eligible Investment Account within 12 months upon its U.S. stock trading service activation date.  Eligible Customers must not terminate or downgrade these accounts within 12 months in order to enjoy this Offer.
7. The waived brokerage fees will be converted to and paid in Hong Kong dollars at a prevailing exchange rate designated by the Bank from time to time. 
8. Other transaction fees/charges still apply. These include, without limitation, SEC fee (for sell transaction only) and American Depository Receipt (ADR) Fee.
9. Each Eligible Customer will be entitled to the Offer once only.  If customer is eligible to more than one concurrently running U.S. stock promotional offers, the Bank reserves the right to award only the offer deemed to be of higher value at the Bank’s discretion. 

Issued by The Hongkong and Shanghai Banking Corporation Limited