Calculation of Registration Fee

Title of Each Class of Securities Offered		Maximum Aggregate Offering Price		Amount of Registration Fee⁽¹⁾^,⁽²⁾
Debt Securities		$4,613,000.00		$503.28

⁽¹⁾ Calculated in accordance with Rule 457(r) of the Securities Act of 1933, as amended.

⁽²⁾ A Registration fee of $00.00 was previously paid(Accession No. 0001144204-18-018195)

Based on the Worst Performing of the NASDAQ-100 Index®, the Russell 2000® Index and the S&P 500® Index

Contingent Income Auto-Callable Securities, which we refer to as the securities, do not guarantee the payment of interest or the repayment of the stated principal amount. Instead, the securities offer the opportunity for investors to earn a contingent quarterly payment at an annual rate of 7.40% of the stated principal amount, with respect to each determination date on which the closing level of each underlying index is greater than or equal to 75.00% of its initial index level, which we refer to as the downside threshold level. In addition, if the closing level of each underlying index is greater than or equal to its initial index level on any of the first 7 determination dates, the securities will be automatically redeemed for an amount per security equal to the sum of the stated principal amount and the contingent quarterly payment with respect to the related determination date. If the securities have not been previously redeemed and the final index level of each underlying index is greater than or equal to its downside threshold level, the payment at maturity will be the sum of the stated principal amount and the contingent quarterly payment with respect to the final determination date. However, if the securities have not been previously redeemed and the final index level of any underlying index is less than its downside threshold level, you will be exposed to the decline in the closing level of the worst performing underlying index, as compared to its initial index level, on a 1 to 1 basis and will receive a payment at maturity that is less than 75.00% of the stated principal amount of the securities and could be zero. As a result, investors must be willing to accept the risk of losing their entire principal and also the risk of not receiving any contingent quarterly payment. Accordingly, the securities do not guarantee any return of principal at maturity. Because all payments on the securities are based on the worst performing underlying index, (i) a decrease in the closing level of any underlying index below its downside threshold level on most or all of the determination dates will result in few or no contingent quarterly payments and (ii) a decrease in the closing level of any underlying index below its downside threshold level on the final determination date will result in a significant loss of your investment, even if the other underlying indices have appreciated or have not decreased as much. The securities are intended for investors who seek an opportunity to earn interest at a potentially above-market rate in exchange for the risks of principal loss and receiving few or no contingent quarterly payments over the approximate 2-year term of the securities. Investors will not participate in any appreciation of any of the underlying indices. All payments on the securities are subject to the credit risk of HSBC.

The estimated initial value of the securities on the pricing date is $966.752 per security, which is less than the price to public. The market value of the securities at any time will reflect many factors and cannot be predicted with accuracy. See "Estimated initial value" below and "Risk Factors" beginning on page 9 of this document for additional information.

An investment in the securities involves certain risks. See "Risk Factors" beginning on page 9 of this pricing supplement, page S-1 of the Equity Index Underlying Supplement and page S-1 of the prospectus supplement.

Neither the U.S. Securities and Exchange Commission (the "SEC") nor any state securities commission has approved or disapproved the securities, or determined that this pricing supplement or the accompanying Equity Index Underlying Supplement, prospectus supplement or prospectus is truthful or complete. Any representation to the contrary is a criminal offense.

HSBC has filed a registration statement (including a prospectus, a prospectus supplement and an Equity Index Underlying Supplement) with the SEC for the offering to which this pricing supplement relates. Before you invest, you should read the prospectus, prospectus supplement and Equity Index Underlying Supplement in that registration statement and other documents HSBC has filed with the SEC for more complete information about HSBC and this offering. You may get these documents for free by visiting EDGAR on the SEC's web site at www.sec.gov. Alternatively, HSBC Securities (USA) Inc. or any dealer participating in this offering will arrange to send you the prospectus, prospectus supplement and Equity Index Underlying Supplement if you request them by calling toll-free 1-866-811-8049.

You should read this document together with the related Equity Index Underlying Supplement, prospectus supplement and prospectus, each of which can be accessed via the hyperlinks below.

The securities are not deposit liabilities or other obligations of a bank and are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other governmental agency of the United States or any other jurisdiction, and involve investment risks including possible loss of the stated principal amount invested due to the credit risk of HSBC.

The Contingent Income Auto-Callable Securities due September 14, 2023 Based on the Worst Performing of the NASDAQ-100 Index®, the Russell 2000® Index and the S&P 500® Index, which we refer to as the securities, provide an opportunity for investors to earn a contingent quarterly payment at an annual rate of 7.40% of the stated principal amount with respect to each quarterly determination date on which the determination closing level or the final index level, as applicable, of each underlying index is greater than or equal to its downside threshold level. The contingent quarterly payment, if any, will be payable quarterly on the contingent payment date (which is the third business day after the related determination date) or the maturity date, as applicable. It is possible that the closing level of one or more underlying indices could remain below their respective downside threshold levels for extended periods of time or even throughout the term of the securities so that you may receive few or no contingent quarterly payments.

If the determination closing level of each underlying index is greater than or equal to its initial index level on any of the first 7 determination dates, the securities will be automatically redeemed for an early redemption payment equal to the stated principal amount plus the contingent quarterly payment with respect to the related determination date. If the securities have not previously been redeemed and the final index level of each underlying index is greater than or equal to its downside threshold level, the payment at maturity will be the stated principal amount and, the contingent quarterly payment with respect to the final determination date. However, if the securities have not previously been redeemed and the final index level of any underlying index is less than its downside threshold level, investors will be exposed to the decline in the closing level of the worst performing underlying index, as compared to its initial index level, on a 1 to 1 basis and will receive a payment at maturity that is less than 75.00% of the stated principal amount of the securities and could be zero. Investors in the securities must be willing to accept the risk of losing their entire principal and also the risk of not receiving any contingent quarterly payments. In addition, investors will not participate in any appreciation of any of the underlying indices.

The securities offer investors an opportunity to earn a contingent quarterly payment at an annual rate of 7.40% of the stated principal amount with respect to each determination date on which the determination closing level or the final index level, as applicable, of each underlying index is greater than or equal to its downside threshold level. The securities may be redeemed prior to maturity for the stated principal amount per security plus the applicable contingent quarterly payment, and the payment at maturity will vary depending on the final index level of the worst performing underlying index, as follows:

The following diagrams illustrate the potential outcomes for the securities depending on (1) the determination closing level and (2) the final index level of each underlying index.

For more information about the payout upon an automatic early redemption or at maturity in different hypothetical scenarios, see “Hypothetical Examples” beginning on page 6.

In Examples 1 and 2, the closing levels of the underlying indices fluctuate over the term of the securities and the determination closing level of each underlying index is greater than or equal to its hypothetical initial index level on one of the first 7 determination dates. Because the determination closing level of each underlying index is greater than or equal to its initial index level on one of the first 7 determination dates, the securities are automatically redeemed following the relevant determination date. In Examples 3 and 4, the determination closing level of at least one underlying index on the first 7 determination dates is less than its initial index level, and, consequently, the securities are not automatically redeemed prior to, and remain outstanding until, maturity.

* The early redemption payment includes the unpaid contingent quarterly payment with respect to the determination date on which the determination closing level of each underlying index is greater than or equal to its initial index level and the securities are redeemed as a result.

In Example 1, the securities are automatically redeemed following the first determination date as the determination closing level of each underlying index on the first determination date is greater than or equal to its initial index level. You would receive the early redemption payment, calculated as follows:

stated principal amount + contingent quarterly payment = $1,000 + $18.50 = $1,018.50

In this example, the early redemption feature limits the term of your investment to approximately 3 months and you may not be able to reinvest at comparable terms or returns. If the securities are redeemed early, you will not receive any additional contingent quarterly payments.

In Example 2, since the determination closing level of each underlying index on the 1st determination date is greater than its downside threshold level, you would receive the contingent payment of $18.50 with respect to that determination date. You would receive no contingent payment with respect to the 2^nd through 6^th determination dates, since the determination closing level of at least one underlying index on each of those determination dates is less than its downside threshold level. The securities are automatically redeemed following the 7^th determination date, as the determination closing level of each underlying index on that day is greater than or equal to its initial index level. Following the 7^th determination date, you would receive an Early Redemption Payment of $1,018.50, which includes the contingent quarterly payment with respect to the 7^th determination date.

In this example, the early redemption feature limits the term of your investment to approximately 21 months and you may not be able to reinvest at comparable terms or returns. If the securities are redeemed early, you will not receive any additional contingent quarterly payments. Further, although the worst performing underlying index has appreciated by 5% from its initial index level as of the 7^th determination date, you only receive a total payment of $1,018.50 per security and do not benefit from such appreciation.

Examples 3 and 4 illustrate the payment at maturity per security based on the final index level of the worst performing underlying index.

In Example 3, the closing level of at least one underlying index is below its downside threshold level on every determination date. As a result, you would not receive any contingent quarterly payments during the term of the securities and, at maturity, you would be fully exposed to the decline in the closing level of the NDX, which is the worst performing underlying index. As the final index level of the worst performing underlying index is less than its downside threshold level, your payment at maturity is calculated as follows:

In this example, the payment you would receive at maturity is significantly less than the stated principal amount. In addition, you would not be entitled to receive any contingent quarterly payments during the term of the securities.

In Example 4, the closing level of at least one underlying index is below its downside threshold level on each of the 1st through the 7^th determination date. As a result, the contingent quarterly payment is not payable for any of those determination dates. At maturity, because the final index level of each underlying index is greater than its downside threshold level, you would receive the stated principal amount, plus a contingent quarterly payment with respect to the final determination date. Your payment at maturity is calculated as follows:

In this example, although the final index level of the worst performing underlying index represents a 15% decline from its initial index level, because the final index level of the worst performing underlying index is greater than or equal to its downside threshold level, you would receive the stated principal amount plus the contingent quarterly payment, equal to a total payment of $1,018.50 per security at maturity.

You believe that the closing level of each underlying index will be equal to or greater than its downside threshold level on one or more of the determination dates, and not below its downside threshold level on the final determination date.

You are willing to make an investment that is potentially exposed to downside performance of the worst performing underlying index on a 1-to-1 basis if its final index level is less than the downside threshold level.

You are willing to hold the securities that will be automatically called on any of the first 7 determination dates on which the closing level of each underlying index is at or above its initial index level.

You are willing to invest in securities, the maximum potential return of which is limited to any contingent quarterly payments payable on the securities.

You are willing to forgo distributions paid on the stocks included in the underlying indices.

You do not seek an investment for which there will be an active secondary market.

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.

You are comfortable with the creditworthiness of HSBC, as Issuer of the securities.

You believe that the closing level of each underlying index will be less than its downside threshold level on each of the determination dates, and/or below its downside threshold level on the final determination date.

You are unwilling to make an investment that is potentially exposed to the downside performance of the worst performing underlying index on a 1-to-1 basis if its final index level is less than the downside threshold level.

You are unable or unwilling to hold the securities that will be automatically called on any of the first 7 determination dates on which the closing level of each underlying index is at or above its initial index level.

You are unwilling to invest in securities, the maximum potential return of which is limited to any contingent quarterly payments payable on the securities.

You are not willing to forgo distributions paid on the stocks included in the underlying indices.

You prefer the lower risk, and therefore accept the potentially lower returns, of conventional debt securities with comparable maturities issued by HSBC or another issuer with a similar credit rating.

You are not willing or are unable to assume the credit risk associated with HSBC, as Issuer of the securities.

We urge you to read the section “Risk Factors” beginning on page S-1 of the accompanying prospectus supplement and page S-1 of the accompanying Equity Index Underlying Supplement. Investing in the securities is not equivalent to investing directly in the securities included in any of the underlying indices. You should understand the risks of investing in the securities and should reach an investment decision only after careful consideration, with your advisors, of the suitability of the securities in light of your particular financial circumstances and the information set forth in this document and the accompanying prospectus, prospectus supplement and Equity Index Underlying Supplement.

In addition to the risks discussed below, you should review “Risk Factors” in the accompanying prospectus supplement and Equity Index Underlying Supplement including the explanation of risks relating to the securities described in the following sections:

You will be subject to significant risks not associated with conventional fixed-rate or floating-rate debt securities.

You may lose your entire initial investment. The securities do not guarantee any return of principal. The securities differ from ordinary debt securities in that we will not necessarily pay the full principal amount of the securities at maturity. HSBC will only pay you the principal amount of your securities at maturity if the securities have not been automatically redeemed prior to maturity and the final index level of each underlying index is greater than or equal to its downside threshold level. If the final index level of any underlying index is less than its respective downside threshold level, you will be exposed to the decline in the closing level of the worst performing underlying index, as compared to its initial index level, on a 1 to 1 basis and you will receive for each security that you hold at maturity an amount equal to the stated principal amount times the index performance factor of the worst performing underlying index. In this case, the payment at maturity will be less than 75.00% of the stated principal amount and could be zero.

You will not receive any contingent quarterly payment with respect to any quarterly period where the determination closing level or the final index level, as applicable, of any underlying index is less than its respective downside threshold level on the related determination date. A contingent quarterly payment will be made with respect to a quarterly period only if the determination closing level or the final index level of each underlying index is greater than or equal to its downside threshold level on the related determination date. It is possible that the closing level of each underlying index could be below its respective downside threshold level on most or all of the determination dates so that you will receive few or no contingent quarterly payments.

Investors will not participate in any appreciation of any underlying index, and your return on the securities is limited to the principal amount plus any contingent quarterly payments, regardless of any appreciation in the levels of the underlying indices. Investors will not participate in any appreciation of any underlying index from its initial index level. Unless the final index level of any underlying index is less than its downside threshold level, you will receive at maturity the stated principal amount plus the contingent quarterly payment with respect to the final determination date, regardless of any appreciation in the levels of the underlying indices, which may be significant. The return on the securities will be limited to the contingent quarterly payment that is payable with respect to each determination date on which the determination closing level or the final index level, as applicable, of each underlying index is greater than or equal to its downside threshold level. It is possible that the closing price of any underlying index could be below its downside threshold level on most or all of the determination dates so that you will receive few or no contingent quarterly payments. Accordingly, the return on the securities may be significantly less than the return on a direct investment in the securities included in the underlying indices during the term of the securities.

The securities may be called prior to the maturity date. If the securities are called early, the holding period over which you will receive contingent quarterly payments could be as little as 3 months. If the securities are redeemed prior to the maturity date, you will receive no more contingent quarterly payments. There is no guarantee that you would be able to reinvest the proceeds from an investment in the securities at a comparable return for a similar level of risk following an automatic call.

The amounts payable on the securities are not linked to the levels of the underlying indices at any time other than on the determination dates, including the final determination date. The payments on the securities will be based on the closing levels of the underlying indices on each determination date, subject to postponement for non-trading days and certain market disruption events. Even if the market price of an underlying index appreciates prior to an applicable determination date but then drops on that day to a level that is below its downside threshold level, the contingent quarterly payment on the securities will not be paid. Similarly, the payment at maturity will be less, and may be significantly less, than it would have been had the securities been linked to the levels of the underlying indices on a date prior to the final determination date. Although the actual levels of the underlying indices on the maturity date or at other times during the term of the securities may be higher than the level on one or more determination dates, the payments on the securities will be based solely on the levels of the underlying indices on the determination dates.

You are exposed to the market risk of all the underlying indices, with respect to both the contingent quarterly payments, if any, and the payment at maturity, if any. Your return on the securities is not linked to a basket consisting of the multiple underlying indices. Rather, it will be contingent upon the independent performance of each underlying index. Unlike an instrument with a return linked to a basket of underlying assets, in which risk is potentially mitigated and diversified among all the components of the basket, you will be exposed to the risks related to all of the underlying indices. Poor performance by any underlying index over the term of the securities may negatively affect your return and will not be offset or mitigated by any positive performance by the other underlying indices. To receive any contingent quarterly payments, all underlying indices must close at or above their respective downside threshold levels on the applicable determination date. In addition, if any underlying index has decreased to below its respective downside threshold level as of the final determination date, you will be fully exposed to the decrease in the worst performing underlying index on a 1 to 1 basis, even if the other underlying indices have appreciated. Under this scenario, the payment at maturity will be less than 75.00% of the stated principal amount and could be zero. Accordingly, your investment is subject to the market risk of each of the underlying indices.

Because the securities are linked to the performance of the worst performing underlying index, you are exposed to greater risks of receiving no contingent quarterly payments and sustaining a significant loss on your investment than if the securities were linked to fewer underlying indices or just one underlying index. The risk that you will not receive any contingent quarterly payments, or that you will suffer a significant loss on your investment, is greater if you invest in the securities as opposed to substantially similar securities that are linked to the performance of fewer underlying indices or just one underlying index. With multiple underlying indices, it is more likely that one or more of the underlying indices will close below their respective downside threshold levels on any determination date (including the final determination date) and below its downside threshold level on the final determination date, than if the securities were linked to fewer underlying indices or only one underlying index. Therefore, it is more likely that you will not receive any contingent quarterly payments, and that you will suffer a significant loss on your investment. In addition, because each underlying index must close above its initial index level on a quarterly determination date in order for the securities to be called prior to maturity, the securities are less likely to be called than if the securities were linked to fewer underlying indices or just one underlying index.

Adjustments to any underlying index could adversely affect the value of the securities. The publisher of an underlying index may add, delete or substitute the securities included in the relevant underlying index. In addition, the publisher of an underlying index may make other methodological changes that could change the level of that underlying index. Further, the publisher of an underlying index may discontinue or suspend calculation or publication of that underlying index at any time. Any such actions could affect the value of and the return on the securities.

Non-U.S. Securities Risk. Some of the equity securities included in the NDX are issued by non-U.S. companies. Investments in securities linked to the value of such non-U.S. equity securities, such as the securities, involve risks associated with the home countries of the issuers of those non-U.S. equity securities. The prices of securities in non-U.S. markets may be affected by political, economic, financial and social factors in those countries, or global regions, including changes in government, economic and fiscal policies and currency exchange laws.

Small-capitalization risk. The RTY tracks companies that are considered small capitalization. These companies often have greater stock price volatility, lower trading volume and less liquidity than large-capitalization companies and therefore the level of the RTY may be more volatile than an investment in stocks issued by large-capitalization companies. Stock prices of small-capitalization companies are also more vulnerable than those of large-capitalization companies to adverse business and economic developments, and the stocks of small-capitalization companies may be thinly traded, making it difficult for the RTY to track them. In addition, small-capitalization companies are typically less stable financially than large-capitalization companies and may depend on a small number of key personnel, making them more vulnerable to loss of personnel. Small-capitalization companies are often subject to less analyst coverage and may be in early, and less predictable, periods of their corporate existences. Such companies tend to have smaller revenues, less diverse product lines, smaller shares of their product or service markets, fewer financial resources and less competitive strengths than large-capitalization companies and are more susceptible to adverse developments related to their products.

Credit risk of HSBC USA Inc. The securities are senior unsecured debt obligations of the issuer, HSBC, and are not, either directly or indirectly, an obligation of any third party. As further described in the accompanying prospectus supplement and prospectus, the securities will rank on par with all of the other unsecured and unsubordinated debt obligations of HSBC, except such obligations as may be preferred by operation of law. Any payment to be made on the securities depends on the ability of HSBC to satisfy its obligations as they come due. As a result, the actual and perceived creditworthiness of HSBC may affect the market value of the securities and, in the event HSBC were to default on its obligations, you may not receive the amounts owed to you under the terms of the securities and could lose your entire investment.

The estimated initial value of the securities, which was determined by us on the pricing date, is less than the price to public and may differ from the market value of the securities in the secondary market, if any. The estimated initial value of the securities was calculated by us on the pricing date and is less than the price to public. The estimated initial value reflects our internal funding rate, which is the borrowing rate we pay to issue market-linked securities, as well as the mid-market value of the embedded derivatives in the securities. This internal funding rate is typically lower than the rate we would use when we issue conventional fixed or floating rate debt securities. As a result of the difference between our internal funding rate and the rate we would use when we issue conventional fixed or floating rate debt securities, the estimated initial value of the securities may be lower if it were based on the levels at which our fixed or floating rate debt securities trade in the secondary market. 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. We determined the value of the embedded derivatives in the securities by reference to our or our affiliates' internal pricing models. These pricing models consider certain assumptions and variables, which can include volatility and interest rates. Different pricing models and assumptions could provide valuations for the securities that are different from our estimated initial value. These pricing models rely in part on certain forecasts about future events, which may prove to be incorrect. The estimated initial value does not represent a minimum price at which we or any of our affiliates would be willing to purchase your securities in the secondary market (if any exists) at any time.

The price of your securities in the secondary market, if any, immediately after the pricing date is expected to be less than the price to public. The price to public takes into account certain costs. These costs include the underwriting discount, our affiliates' projected hedging profits (which may or may not be realized) for assuming risks inherent in hedging our obligations under the securities and the costs associated with structuring and hedging our obligations under the securities. These costs, except for the underwriting discount, will be used or retained by us or one of our affiliates. If you were to sell your securities in the secondary market, if any, the price you would receive for your securities may be less than the price you paid for them because secondary market prices will not take into account these costs. The price of your securities in the secondary market, if any, at any time after issuance will vary based on many factors, including the level of the underlying indices and changes in market conditions, and cannot be predicted with accuracy. The securities are not designed to be short-term trading instruments, and you should, therefore, be able and willing to hold the securities to maturity. Any sale of the securities prior to maturity could result in a loss to you.

If HSBC Securities (USA) Inc. were to repurchase your securities immediately after the original issue date, the price you receive may be higher than the estimated initial value of the securities. Assuming that all relevant factors remain constant after the original issue date, the price at which HSBC Securities (USA) Inc. may initially buy or sell the securities in the secondary market, if any, and the value that may initially be used for customer account statements, if any, may exceed the estimated initial value on the pricing date for a temporary period expected to be approximately 6 months after the original issue date. This temporary price difference may exist because, in our discretion, we may elect to effectively reimburse to investors a portion of the estimated cost of hedging our obligations under the securities and other costs in connection with the securities that we will no longer expect to incur over the term of the securities. We will make such discretionary election and determine this temporary reimbursement period on the basis of a number of factors, including the tenor of the securities and any agreement we may have with the distributors of the securities. The amount of our estimated costs which we effectively reimburse to investors in this way may not be allocated ratably throughout the reimbursement period, and we may discontinue such reimbursement at any time or revise the duration of the reimbursement period after the original issue date of the securities based on changes in market conditions and other factors that cannot be predicted.

Hedging and trading activity by our affiliates could adversely affect the value of the securities. One or more of our affiliates and/or third-party dealers have carried out and expect to continue to carry out hedging activities related to the securities (and possibly to other instruments linked to the underlying indices or their respective component securities), including trading in the component securities as well as other instruments related to one or more underlying indices. As a result, these entities may be unwinding or adjusting hedge positions during the term of the securities, and the hedging strategy may involve greater and more frequent dynamic adjustments to the hedge as the final determination date approaches. Some of our affiliates may also trade the component securities and other financial instruments related to one or more underlying indices on a regular basis as part of their general broker-dealer and other businesses. Any of these hedging or trading activities on or prior to the pricing date could have increased the initial index level of an underlying index and, as a result, its downside threshold level, which is the level at or above which that underlying index must close on each determination date in order for you to earn a contingent quarterly payment and the level at or above which that underlying index must close on the final determination date in order for you to avoid being exposed to the negative performance of the worst performing underlying index at maturity. Additionally, such hedging or trading activities during the term of the securities could adversely affect the level of an underlying index on the determination dates and, accordingly, whether the securities are automatically called prior to maturity and, if the securities are not called prior to maturity, the payout to you at maturity.

The calculation agent, which is HSBC or one of its affiliates, will make determinations with respect to the securities. As calculation agent, HSBC or one of its affiliates has determined the initial index level and the downside threshold level of each underlying index, and will determine the final index level of each underlying index, whether the contingent quarterly payment will be paid on each contingent payment date, whether the securities will be redeemed following any determination date, whether a market disruption event has occurred with respect to an underlying, whether to make any adjustments to any determination closing price or the final index level and the payment that you will receive upon an automatic early redemption or at maturity, if any. Moreover, certain determinations made by HSBC or one of its affiliates in its capacity as calculation agent may require it to exercise discretion and make subjective judgments, such as with respect to the occurrence or non-occurrence of market disruption events. These determinations, which may be subjective, may adversely affect the payout to you upon an automatic early redemption or at maturity, if any. See "Additional Terms of the Notes-Discontinuance or Modification of an Index" and "-Market Disruption Event" in the Equity Index Underlying Supplement.

Investing in the securities is not equivalent to investing in the securities included in any of the underlying indices. Investing in the securities is not equivalent to investing in the component securities of any underlying index. Investors in the securities will not have voting rights or rights to receive dividends or other distributions or any other rights with respect to the securities included in any of the underlying indices.

The securities are not insured by any governmental agency of the United States or any other jurisdiction. The securities are not deposit liabilities or other obligations of a bank and are not insured by the Federal Deposit Insurance Corporation or any other governmental agency or program of the United States or any other jurisdiction. An investment in the securities is subject to the credit risk of HSBC, and in the event that HSBC is unable to pay its obligations as they become due, you may not receive the full amounts due on the securities.

The market price of the securities will be influenced by many unpredictable factors. Several factors will influence the market price of the securities in the secondary market and the price at which HSBC Securities (USA) Inc. may be willing to purchase or sell the securities in the secondary market, including: the values, volatilities and dividend yields, as applicable, of the underlying indices and the securities included in the underlying indices, interest and yield rates, time remaining to maturity, geopolitical conditions and economic, financial, political and regulatory or judicial events and any actual or anticipated changes in our credit ratings or credit spreads. The level of each underlying index may be, and has recently been, volatile, and we can give you no assurance that the volatility will lessen. See "Information about the Underlying Indices" below. You may receive less, and possibly significantly less, than the stated principal amount if you try to sell your securities prior to maturity.

The securities will not be listed on any securities exchange and secondary trading may be limited. The securities will not be listed on any securities exchange or automated quotation system. Therefore, there may be little or no secondary market for the securities. HSBC Securities (USA) Inc. may, but is not obligated to, make a market in the securities. Even if there is a secondary market, it may not provide enough liquidity to allow you to trade or sell the securities easily. Because we do not expect that other broker-dealers will participate significantly in the secondary market for the securities, the price at which you may be able to trade your securities is likely to depend on the price, if any, at which HSBC Securities (USA) Inc. is willing to transact. If, at any time, HSBC Securities (USA) Inc. were to cease making a market in the securities, it is likely that there would be no secondary market for the securities. Accordingly, you should be willing to hold your securities to maturity.

The U.S. federal income tax consequences of an investment in the securities are uncertain. There is no direct legal authority as to the proper treatment of the securities for U.S. federal income tax purposes.

Please read the discussion under "Additional Information About the Securities - Additional Provisions - Tax considerations" in this document concerning the U.S. federal income tax consequences of an investment in the securities. Pursuant to the terms of the securities, you agree to treat a security for U.S. federal income tax purposes as a single financial contract that provides for a contingent quarterly payment that will be treated as ordinary income to you at the time received or accrued in accordance with your regular method of tax accounting. If the Internal Revenue Service ("IRS") were successful in asserting an alternative treatment for the securities, the timing and character of income or loss on the securities might differ significantly from the tax treatment described herein. Non-U.S. Holders should note that the entire amount of the contingent quarterly payments will be subject to U.S. federal income tax withholding at a 30% rate (or at a lower rate under an applicable income tax treaty), and we will not be required to pay any additional amounts with respect to amounts withheld. We do not plan to request a ruling from the IRS regarding the tax treatment of the securities, and the IRS or a court may not agree with the tax treatment described herein.

In 2007, the U.S. Treasury Department and the IRS released a notice requesting comments on the U.S. federal income tax treatment of "prepaid forward contracts" and similar instruments. While it is not clear whether the securities would be viewed as similar to the prepaid forward contracts described in the notice, it is possible that any U.S. Treasury Department regulations or other guidance issued after consideration of these issues could materially and adversely affect the tax consequences of an investment in the securities, possibly with retroactive effect. The notice focuses on a number of issues, the most relevant of which for holders of the securities are the character and timing of income or loss and the degree, if any, to which income realized by non-U.S. investors should be subject to withholding tax. Both U.S. and Non-U.S. Holders should consult their tax advisors regarding the U.S. federal income tax consequences of an investment in the securities, including possible alternative treatments, the issues presented by this notice and any tax consequences arising under the laws of any state, local or non-U.S. taxing jurisdictions.

Please read this information in conjunction with the final terms on the front cover of this document.

FINAL TERMS
Issuer:	HSBC USA Inc. ("HSBC")
Underlying indices:	The NASDAQ-100 Index® (Bloomberg symbol: NDX), the Russell 2000® Index (Bloomberg symbol: RTY) and the S&P 500® Index (Bloomberg symbol: SPX) (each, an "underlying index").
Aggregate principal amount:	$4,613,000.00
Stated principal amount:	$1,000 per security
Issue price:	$1,000 per security
Pricing date:	September 10, 2021
Original issue date:	September 15, 2021
Maturity date:	September 14, 2023, subject to adjustment as described in the accompanying Equity Index Underlying Supplement.
Early redemption:	If, on any of the first 7 determination dates, the determination closing level of each underlying index is greater than or equal to its initial index level, the securities will be automatically redeemed for an early redemption payment on the third business day following the related determination date. No further payments will be made on the securities once they have been redeemed. The securities will not be redeemed if the determination closing level of any underlying index on a determination date is below its initial index level.
Early redemption payment:	The early redemption payment will be an amount equal to (i) the stated principal amount plus (ii) the contingent quarterly payment with respect to the related determination date.
Determination closing level:	With respect to each underlying index, its official closing level on any determination date other than the final determination date, as determined by the calculation agent .
Contingent quarterly payment:	If, on any determination date, the determination closing level or the final index level, as applicable, of each underlying index is greater than or equal to its downside threshold level, we will pay a contingent quarterly payment at an annual rate of 7.40% of the stated principal amount per security (corresponding to $18.50 (or 1.85%) per quarter per security) on the related contingent payment date. If, on any determination date, the determination closing level or the final index level, as applicable, of any underlying index is less than its downside threshold level, no contingent quarterly payment will be made with respect to that determination date. It is possible that one or more underlying indices will remain below their respective downside threshold levels for extended periods of time or even throughout the entire term of the securities so that you will receive few or no contingent quarterly payments during the term of the securities.
Determination dates:	December 10, 2021, March 10, 2022, June 10, 2022, September 12, 2022, December 12, 2022, March 10, 2023, June 12, 2023 and September 11, 2023 (the final determination date), each subject to adjustment as described in "Additional Terms of the Notes-Valuation Dates" in the accompanying Equity Index Underlying Supplement.
Contingent payment dates:	With respect to each determination date other than the final determination date, the third business day after the related determination date. The payment of the contingent quarterly payment, if any, with respect to the final determination date will be made on the maturity date.
Payment at maturity:	If the final index level of each underlying index is greater than or equal to its downside threshold level: If the final index level of any underlying index is less than its downside threshold level:		(i) the stated principal amount and (ii) the contingent quarterly payment with respect to the final determination date. (i) the stated principal amount multiplied by (ii) the index performance factor of the worst performing underlying index. In this case, the payment at maturity will be less than 75.00% of the stated principal amount of the securities and could be zero.
Index performance factor:	With respect to each underlying index, final index level / initial index level
Downside threshold level:	11,580.5625 with respect to the NDX, 1,670.6595 with respect to the RTY and 3,343.935 with respect to the SPX, each of which is 75.00% of its initial index level
Initial index level:	15,440.75 with respect to the NDX, 2,227.546 with respect to the RTY and 4,458.58 with respect to the SPX, each of which was its official closing level on the pricing date.
Final index level:	With respect to each underlying index, its official closing level on the final determination date.
Official closing level:	With respect to each underlying index, its official closing level on any scheduled trading day as determined by the calculation agent based upon the value displayed on Bloomberg Professional® service page (with respect to the NDX, "NDX <INDEX>", with respect to the RTY, "RTY <INDEX>" and with respect to the SPX, "SPX <INDEX>") or any successor page on the Bloomberg Professional® service or any successor service, as applicable.
Worst performing underlying index:	The underlying index with the largest percentage decrease from its initial index level to its final index level.
Estimated initial value:	The Estimated Initial Value of the securities is less than the price you pay to purchase the securities. The Estimated Initial Value does not represent a minimum price at which we or any of our affiliates would be willing to purchase your securities in the secondary market, if any, at any time. See "Risk Factors - The Estimated Initial Value of the securities, which was determined by us on the Trade Date, is less than the price to public and may differ from the market value of the securities in the secondary market, if any."
CUSIP/ ISIN:	40439JLW3 / US40439JLW35
Listing:	The securities will not be listed on any securities exchange.
Agent:	HSBC Securities (USA) Inc., an affiliate of HSBC. See "Additional Information About the Securities - Supplemental plan of distribution (conflicts of interest)."
Commissions and issue price:	Price to public	Agent’s commissions		Proceeds to issuer
Per security	$1,000.00	$15.00⁽¹⁾ $5.00⁽²⁾		$980.00
Total	$4,613,000.00	$69,195.00 $23,065.00		$4,520,740.00

(1)	HSBC Securities (USA) Inc., acting as agent for HSBC, will receive a fee of $20.00 per $1,000 stated principal amount and will pay Morgan Stanley Wealth Management a fixed sales commission of $15.00 for each security they sell. See “Additional Information About the Securities - Supplemental plan of distribution (conflicts of interest).”
(2)	Of the $20.00 per $1,000 stated principal amount received by HSBC Securities (USA) Inc., acting as agent for HSBC, HSBC Securities (USA) Inc. will pay Morgan Stanley Wealth Management a structuring fee of $5.00 for each security.

	First 7 Determination Dates

Initial Index Level	Compare the determination closing level of each underlying index against its initial index level and its downside threshold level until the final determination date or any earlier redemption.
	The determination closing level of each underlying indexis greater than or equal to its initial index level	Automatic Early Redemption
		You will receive (i) the stated principal amount plus (ii) the contingent quarterly payment with respect to the related determination date No further payment will be made on the securities once they have been redeemed.

	The determination closing level of any underlying index is less than its initial index level	No Automatic Early Redemption	The determination closing level of each underlying index is greater than or equal to its downside threshold level	You will receive the contingent quarterly payment. Proceed to the next determination date.

			The determination closing level of any underlying index is less than its downside threshold level	No contingent quarterly payment. Proceed to the next determination date.

Determination Dates 1-7	Final Determination Date	Payment at Maturity
The determination closing level of each underlying index is less than its initial index level on each determination date.
	The final index level of each underlying index is greater than or equal to its downside threshold level
		(i) The stated principal amount plus (ii) the contingent quarterly payment with respect to the final determination date.
Proceed to Maturity

		The principal amount multiplied by the index performance factor of the worst performing underlying index. No contingent quarterly payment will be payable, and you will lose a significant portion or all of your principal in this scenario.
	The final index level of any underlying index is less than its downside threshold level

Hypothetical Initial Share Price:	With respect to each underlying index, 100.00

Hypothetical Downside Threshold Level:	With respect to each underlying index, 75.00, which is 75.00% of its hypothetical initial index level

Contingent Quarterly Payment:	7.40% per annum (corresponding to $18.50 (or 1.85%) per quarter per security)

Stated Principal Amount:	$1,000 per security

	Example 1					Example 2
Determination Dates	Hypothetical Determination Closing Level of NDX	Hypothetical Determination Closing Level of RTY	Hypothetical Determination Closing Level of SPX	Contingent Quarterly Payment	Early Redemption Payment	Hypothetical Determination Closing Level of NDX	Hypothetical Determination Closing Level of RTY	Hypothetical Determination Closing Level of SPX	Contingent Quarterly Payment	Early Redemption Payment
#1	100.00	105.00	115.00	-*	$1,018.50	90.00	95.00	85.00	$18.50	N/A
#2	N/A	N/A	N/A	N/A	N/A	45.00	60.00	90.00	N/A	N/A
#3	N/A	N/A	N/A	N/A	N/A	40.00	85.00	105.00	N/A	N/A
#4	N/A	N/A	N/A	N/A	N/A	40.00	90.00	100.00	N/A	N/A
#5	N/A	N/A	N/A	N/A	N/A	45.00	100.00	110.00	N/A	N/A
#6	N/A	N/A	N/A	N/A	N/A	47.00	105.00	115.00	N/A	N/A
#7	N/A	N/A	N/A	N/A	N/A	125.00	115.00	105.00	-*	$1,018.50
Final Determination Date	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

	Example 3					Example 4
Determination Dates	Hypothetical Determination Closing Level of NDX	Hypothetical Determination Closing Level of RTY	Hypothetical Determination Closing Level of SPX	Contingent Quarterly Payment	Early Redemption Payment	Hypothetical Determination Closing Level of NDX	Hypothetical Determination Closing Level of RTY	Hypothetical Determination Closing Level of SPX	Contingent Quarterly Payment	Early Redemption Payment
#1	42.00	65.00	85.00	N/A	N/A	45.00	95.00	105.00	N/A	N/A
#2	40.00	60.00	90.00	N/A	N/A	44.00	65.00	90.00	N/A	N/A
#3	43.00	55.00	95.00	N/A	N/A	42.00	85.00	95.00	N/A	N/A
#4	40.00	50.00	100.00	N/A	N/A	47.00	90.00	100.00	N/A	N/A
#5	43.00	70.00	110.00	N/A	N/A	45.00	100.00	110.00	N/A	N/A
#6	45.00	85.00	85.00	N/A	N/A	43.00	105.00	115.00	N/A	N/A
#7	42.00	50.00	90.00	N/A	N/A	48.00	110.00	120.00	N/A	N/A
Final Determination Date	50.00	180.00	190.00	N/A	N/A	85.00	160.00	170.00	$18.50*	N/A
Payment at Maturity	$500.00					$1,018.50

Payment at maturity =	final index level of NDX	x principal amount =	$50.00	x $1,000.00	= $500.00
	initial index level of NDX		$100.00

NASDAQ-100 Index^® Overview
The Nasdaq-100 Index® ("NDX") is a modified market capitalization-weighted index of 100 of the largest non-financial companies listed on the NASDAQ Stock Market based on market capitalization. It does not contain securities of financial companies (based on the Financials industry classification according to the Industry Classification Benchmark). Each underlying stock's influence on the level of the NDX is directly proportional to the value of its share weight.
*For more information about the NDX, see "The NASDAQ-100 Index®" beginning on page S-31 of the accompanying Equity Index Underlying Supplement.*
Historical Information
The following graph sets forth the historical performance of the NDX based on the daily historical closing values from September 10, 2011 through September 10, 2021. We obtained the closing values below from the Bloomberg Professional® service. We have not undertaken any independent review of, or made any due diligence inquiry with respect to, the information obtained from the Bloomberg Professional® service.
	Historical Performance of the NASDAQ-100 Index^® — Daily Closing Levels September 10, 2011 to September 10, 2021

*The black solid line indicates the downside threshold level.

Russell 2000^® Index Overview
The Russell 2000® Index ("RTY") is designed to track the performance of the small capitalization segment of the U.S. equity market. All 2,000 stocks are traded on a major U.S. exchange, and the RTY consists of the smallest 2,000 companies included in the Russell 3000® Index. The Russell 3000® Index is composed of the 3,000 largest U.S. companies as determined by market capitalization.
*For more information about the RTY, see "The Russell 2000® Index" beginning on page S-45 of the accompanying Equity Index Underlying Supplement.*
Historical Information
The following graph sets forth the historical performance of the RTY based on the daily historical closing values from September 10, 2011 through September 10, 2021. We obtained the closing values below from the Bloomberg Professional® service. We have not undertaken any independent review of, or made any due diligence inquiry with respect to, the information obtained from the Bloomberg Professional® service.
	Historical Performance of the Russell 2000^® Index — Daily Closing Levels September 10, 2011 to September 10, 2021

*The black solid line indicates the downside threshold level.

S&P 500^® Index Overview
The S&P 500® Index ("SPX") is a market capitalization-weighted index intended to provide a performance benchmark for the large-cap U.S. equity markets. The SPX includes a representative sample of 500 companies in leading industries of the U.S. economy.
*For more information about the SPX, see "The S&P 500® Index" beginning on page S-55 of the accompanying Equity Index Underlying Supplement.*
Historical Information
The following graph sets forth the historical performance of the SPX based on the daily historical closing values from September 10, 2011 through September 10, 2021. We obtained the closing values below from the Bloomberg Professional® service. We have not undertaken any independent review of, or made any due diligence inquiry with respect to, the information obtained from the Bloomberg Professional® service.
	Historical Performance of the S&P 500^® Index — Daily Closing Levels September 10, 2011 to September 10, 2021

*The black solid line indicates the downside threshold level.