July 30, , July 31, , August 1, , August 2, and August 3, Hypothetical Examples of Amounts Payable at Maturity. You will not participate in any appreciation in the level of the relevant Reference Asset as multiplied by the Upside Participation Rate beyond the relevant Maximum Cap. In addition, if we were to use the rate we use for our conventional fixed or floating rate debt issuances, we would expect the economic terms of the securities to be more favorable to you. For a different portion of the notes to be sold in this offering, an affiliated bank will receive a fee and another affiliate will receive a structuring and development fee. The United States federal income tax consequences of your investment in the ROS are uncertain and the Internal Revenue Service could assert that the ROS should be taxed in a manner that is different than described below. Potential conflicts of interest may exist.
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If the relevant underlying Reference Return is greater than or equal to zeroyou will receive the lesser of: We make no representation or warranty as to the accuracy or completeness of the information obtained from Bloomberg Financial Markets. Any representation to the contrary is a criminal offense. Federal Deposit Insurance Corporation or any other governmental agency of the United States, the United Kingdom or any other jurisdiction. If the Index Return is positive and the product of the Index Return and the Multiplier is less than the Maximum Gain, you will receive: The securities are senior unsecured debt obligations of the Issuer, HSBC, and are not, either directly or indirectly, an obligation of any third party.
You are unwilling to make an investment that is exposed to the full downside performance risk of the Index and is not principal protected.
In addition to the level of the Index on any day, the value of the ROS will be affected by a number of economic and market factors that may either offset or magnify each other, including: The following graph sets forth the historical performance of the SPX based on the daily historical closing levels from January 1, through September 9, The ROS may be suitable for you if: You are willing to accept the risk and return profile of the securities versus a conventional debt security with a comparable maturity issued by HSBC or another issuer with a similar credit rating.
The Estimated Initial Value of each of the securities will be calculated by us on the 94v- Da te and will be less than the price to public.
In no case will the sum of the underwriting discounts and referral fees exceed 0. These pricing models consider certain assumptions and variables, 49v-0 can include volatility and interest rates.
In this case, you may lose some or all of your initial investment depending on how much the Index declines. Each Estimated Initial Value does not represent a minimum price at which we or any of our 94g-0 would be willing to purchase your securities in the secondary market, if any, at any time.
The ROS do not guarantee any return of principal.
We are using this free writing prospectus to solicit from you an offer to purchase the securities. Each Estimated Initial Value will reflect our internal funding rate, which is the borrowing rate we use to issue market-linked securities, as well as the mid-market value of the embedded derivatives in the securities.
You are not willing or are unable to assume the 94v0 risk associated with HSBC, as Issuer of the securities.
The securities may not be suitable for you if:. We urge you to consult your investment, legal, tax, accounting and other advisers before you invest in the notes.
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In performing these duties, the economic interests of the calculation agent and other affiliates of ours are potentially adverse to your interests as an investor in the notes. They do not purport to be representative of every possible scenario concerning increases or decreases in the level of the relevant Reference Asset relative to its Initial Level.
HSBC has filed a registration statement including a prospectus, a prospectus supplement and Equity Index Underlying Supplement with the SEC for the offerings to which this free writing prospectus relates. Unless we or our agent informs you otherwise in the confirmation of sale, the pricing supplement to which this free writing prospectus relates is being used in a market-making transaction.
These factors may adversely affect the performance of the SX5E and, as a result, the value of the securities. You will receive your initial investment reduced by the Index Return, calculated as follows: This free writing prospectus relates to two offerings of Accelerated Market Participation Securities. Each Estimated Initial Value will be calculated on the Pricing Date and will be set forth in the pricing supplement to which this free writing prospectus relates.
The outcome of this process is uncertain and could apply on a retroactive basis. You are unwilling or uh-8d to hold the ROS to maturity. The return on the ROS at maturity is linked to the performance of the Index and will depend on whether, and the extent to which, the Index Return is positive or negative. Pursuant to this approach, we do not intend to report any income or gain with respect to the securities prior to their maturity or an earlier sale or exchange and we intend to treat any gain or loss upon maturity or an earlier sale or exchange as long-term capital gain or loss, provided that you have held the security for more than one year ut-88d such time for U.
Payment at Maturity per security.