HSBC SECURITIES (USA) INC.

Offer to Purchase for Cash up to U.S.$600,000,000 Aggregate Maximum Purchase Price of the Outstanding Notes Listed in the Table Below, Subject to the 2022 Tender Cap (as defined below) and Priorities Set Forth Herein

Description of Notes

Issuer

CUSIP/ ISIN Nos.

Acceptance Priority Level

Principal Amount Outstanding(1)


4.750% Notes due 2022


COFIDE


CUSIP: 21987D AA2 / P31389 AY8
ISIN: US21987DAA28 / USP31389AY82


1


U.S.$500,000,000


4.750% Notes due 2025


COFIDE


CUSIP: 21987D AD6 / P3R94G AK5
ISIN: US21987DAD66 / USP3R94GAK53


2


U.S.$600,000,000

___________________________________________________________________________________________________________
(1) Aggregate principal amount outstanding as of the date of this Offer to Purchase.

To view copies of the Tender Offer document(s) please click on the link(s) below:

Offer to Purchase

The Information and Tender Agent for the Offers is:

D.F. KING & CO., INC.

48 Wall Street, 22nd Floor
New York, New York 10005
USA
Attention: Andrew Beck
Email: cofide@dfking.com

Banks and brokers, call: (212) 269-5550
All others, call U.S. toll-free: (866) 207-2324

By Facsimile Transmission: (for eligible institutions only)
(212) 708-3328
Attention: Andrew Beck
Confirmation by Telephone
(212) 269-5552

Any questions or requests for assistance in relation to this Offer to Purchase may be directed to the Dealer Managers at their respective telephone numbers set forth below or such Holder's broker, dealer, commercial bank, trust company or other nominee for assistance concerning the Offers.

The Dealer Managers for the Offers are:

HSBC Securities (USA) Inc.

452 Fifth Avenue
New York, New York 10018
USA
Attn: Liability Management Group
Toll Free: +1 (888) HSBC 4LM
Collect: +1 (212) 525-5552
J.P. Morgan Securities LLC

383 Madison Avenue
New York, New York 10179
USA
Attn: Latin America Debt Capital Markets
Toll Free: +1 (866) 846-2874
Collect: +1 (212) 834-7279