* As more fully described beginning on page FWP-4. If the Reference Return is less than the Buffer Level, you may lose up to 90% įor example, if the Reference Return is -30%, you will suffer aĢ0% loss and receive 80% of the Principal Amount. If the Reference Return is less than the Buffer Level: If the Reference Return is less than zero but greater If the Reference Return is greater than or equal to The S&P 500 ® Index (“SPX”) (Ticker: SPX)Ģ6.00% to 30.00% (to be determined on the Pricing Date) See “Supplemental Plan of Distribution (Conflicts of Interest)” on page FWP-12 of this Or one of our affiliates may pay varying discounts and commissions of up to 1.20% per $1,000 Principal Amount of securities inĬonnection with the distribution of the securities, which may consist of a combination of selling concessions of up to 0.50% and Product supplement, page S-3 of the accompanying prospectus supplement, and page US3-1 of the accompanying underlying supplement You should refer to “Risk Factors” beginning on page FWP-8 of this document, page PS-4 of the accompanying Plan of Distribution (Conflicts of Interest)” on page FWP-12 of this free writing prospectus.Ĭertain risks. The pricing supplement to which this free writing prospectus relates is being used in a market-making transaction. Unless we or our agent informs you otherwise in the confirmation of sale, Transactions in any securities after their initial sale. Or another of its affiliates or agents may use the pricing supplement to which to this free writing prospectus relates in market-making To other registered broker-dealers or will offer the securities directly to investors. will purchase the securities from us for distribution Of ours, as the agent for the sale of the securities. We have appointed HSBC Securities (USA) Inc., an affiliate Any representation to the contrary is a criminal offense. Upon the accuracy or the adequacy of this document, the accompanying underlying supplement, product supplement, prospectus or prospectus These securities will not bear interest.Ĭommission ( the “SEC”) nor any state securities commission has approved or disapproved of the securities or passed securitiesĮxchange or automated quotation system. (each a “security” and collectively the “securities") offered hereunder will not be listed on any U.S. Protection from the first 10% of any losses in the reference asset, subject to the credit risk of HSBC USA Inc.
Minimum payment at maturity if the return is zero or positive, subject to the credit risk of HSBC USA Inc.
Uncapped participation in gains of the reference asset 3 dated Octoberīuffered Performance Plus Securities linked to the S&P 500 ® Index
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