Material Risk Disclosures

The General Disclosure Statement and each of the Annexes (together, the "ISDA DF Disclosure") published by the International Swaps and Derivatives Association, Inc. (“ISDA”), which can be accessed using the link below, contain standard form risk disclosures intended to relate primarily to the requirements of the Commodity Futures Trading Commission Rules 23.431, 23.450(g), 23.605(e) and the Securities and Exchange Commission Rules 240.15Fh–3(b) and 240.15Fh-5.

In no event may any copyright or trademark notice from ISDA be removed. Your use of the ISDA DF Disclosure should be undertaken only after securing appropriate legal advice on its provisions and neither HSBC nor ISDA makes any representation, warranty or assurance, express or implied, concerning the suitability of the ISDA DF Disclosure for use in any particular transaction and bears no responsibility or liability whatsoever, whether in tort or in contract, in respect of any use of this instrument.

No document produced by ISDA (each, an “ISDA Document”) may be reproduced or distributed without ISDA's written permission except ISDA Master Agreements, ISDA Credit Support Documents and standardized general and product specific risk disclosures published by ISDA, which may be reproduced and distributed solely for use in documenting specific commercial transactions.

Content of the ISDA Documents is protected by copyright pursuant to U.S. and international copyright laws. In no event may any copyright or trademark notice be removed.

You are solely responsible for making your own independent appraisal of and investigation into the products, investments and transactions contemplated, particularly outside of the ISDA DF Disclosure.

Please familiarise yourself with the ISDA DF Disclosure Documents before you or your organisation (“you”) undertakes any swap of security based swap transaction with HSBC.

HSBC is not responsible for providing you with legal, tax or other specialist advice and you should make your own arrangements in respect of this accordingly.


Last updated: 7 October 2021