AboutAIPEXAR HSBCandSanFranciscobasedassetmanagerEquBothavedevelopedtheAIPoweredUSEquityAdjustedTotalReturnIndex(”AiPEXAR”).AiPEXARiscomprisedofLargeandMidCapU.S.publiclytradedcompanies,selectedmonthlybasedona3-stepselectionprocessthatutilizesobjectiveartificialintelligencetodynamicallyselecttheunderlyingconstituents.Thisinvestmentprocessisintendedtoprovidegrowththroughavarietyofmarketconditions.AiPEXARisatotalreturnindexwitha5.0%perannumadjustmentfactor. Performance:Historical&Simulated* 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 1000 2000 3000 4000 5000 6000 7000 AI Powered US Equity Adjusted Total Return Index IndexOverview Website http://aipexar.gbm.hsbc.com/AiPEXAR.html BloombergTickerAIPEXARIndexGeographicalFocusUnitedStatesLaunchDate7/14/2021TypeofReturnAdjustedReturnIndexSponsorEquBot,Inc.IndexCalculationAgentSolactiveAGAdjustmentFactor5.0%peryear IndexPerformance:Historical&Simulated* Indexreturnsasof11/30/2022 YTD-18.96% 1Y-16.19% 3Y14.73% 5Y36.43% 10Y214.22% 10YVolatility17.84% Source:Solactive,EquBot,HSBC,Bloomberg,from4/27/2006to11/30/2022 Top10Holdings:Asof11/30/2022 IndexWeight(%)SectorAPPLEINC6.73%ElectronicTechnologyMICROSOFTCORP4.51%TechnologyServicesAMAZON.COMINC2.58%RetailTradeALPHABETINC-CLA1.59%TechnologyServicesBROADCOMINC1.55%ElectronicTechnologyTESLAINC1.54%ConsumerDurablesEXXONMOBILCORP1.41%EnergyMineralsALPHABETINCC-SHARES1.32%TechnologyServicesJPMORGANCHASE&CO1.31%FinanceBERKSHIREHATHAWAYINC-CLB1.30%FinanceTotal23.83% AnnualIndexPerformance:Historical&Simulated* 20072008200920102011201220132014201520162017201820192020202113.7%-30.3%30.8%21.4%4.4%22.2%37.6%21.0%2.7%10.6%22.3%-5.5%28.0%14.2%20.6% Source:Solactive,EquBot,HSBC,Bloomberg,from4/27/2006to11/30/2022 ISSUERFREEWRITINGPROSPECTUSFiledPursuanttoRule433RegistrationNo.333-253385December01,2022 MonthlyPerformanceReport-November2022

Top10SectorAllocations 15.87% 6.98% 4.31% 11.03% 14.64% 4.35% 14.29% 3.59% 5.31% 3.16% 15.57% 6.57% 3.97% 11.56% 13.48% 5.31% 16.34% 4.32% 4.86% 3.24% 0 5 10 15 Technology Services Retail Trade Producer Manufacturing Health Technology Finance Energy Minerals Electronic Technology Consumer Services Consumer Non-Durables Commercial Services Portfolio SolactiveUSLarge&MidCapIndex ContributionstoReturn 0.84% 0.11% 0.67% 0.74% 0.79% -0.01% 0.78% 0.37% 0.23% 0.11% 1.04% 0.21% 0.36% 0.65% 0.83% 0.01% 0.65% 0.19% 0.37% 0.11% 0 0.5 1 Technology Services Retail Trade Producer Manufacturing Health Technology Finance Energy Minerals Electronic Technology Consumer Services Consumer Non-Durables Commercial Services Portfolio SolactiveUSLarge&MidCapIndex RisksRelatingtotheIndex

HSBCUSAInc.andHSBCBankUSA,N.A.(together,“HSBC”),aremembersoftheHSBCGroup.Anymember of theHSBCGroupmayfromtimetotimeunderwrite,makeamarketorotherwisebuyandsell,asprincipal,structuredinvestments,ortogetherwiththeirdirectors,officersandemployersmayhaveeitherlongorshortpositionsinthestructuredinvestments,orstocks,commoditiesorcurrenciestowhichthestructuredinvestmentsarelinked,ormayperformorseektoperforminvestmentbankingservicesforthoselinkedassetsmentionedherein.TheseactivitiesmaybeinconflictwiththeinterestsofinvestorsofdebtobligationsorcertificatesofdepositissuedbymembersoftheHSBCGroup. TheIndexmaybepartiallyuninvested.ThestrategytrackstheexcessreturnofanotionaldynamicbasketofequitiesandcashoverachangeintheICELIBORUSD3Monthinterestrate.TheweightofaCashInvestment(ifany)foraMonthlyReferencePortfolioatanygiventimerepresentstheportionoftheMonthlyReferencePortfoliothatisuninvestedintheapplicableequitybasketatthattime.Assuch,anyallocationtoaCashInvestmentwithintheIndex,whichalsoaccruesattheICELIBORUSD3Monthinterestrate,willnotaffecttheleveloftheIndex.TheIndexwillreflectnoreturnforanyuninvestedportion(i.e.,anyportionrepresentedbyaCashInvestment).Accordingly,totheextentthattheIndexisallocatedtotheCashInvestment,itmaynotreflectthefullincreaseofanyrelevantequitycomponent.Undercertaincircumstances,theIndexmaybe100%allocatedtotheCashInvestment. ImportantDisclaimerInformation ThisdocumentisforinformationalpurposesonlyandintendedtoprovideageneraloverviewoftheAIPoweredUSEquityIndexanddoesnotprovidethetermsofanyspecificissuanceofstructuredinvestments.Thematerialpresenteddoesnotconstituteandshouldnotbeconstruedasarecommen-dationtoenterintoasecuritiesorderivativestransaction.Priortoanydecisiontoinvestinaspecificstructuredinvestment,investorsshouldcarefullyreviewthedisclosuredocumentsforsuchissuancewhichcontainsadetailedexplanationofthetermsoftheissuanceaswellastherisks,taxtreatmentandotherrelevantinformation. InvestinginfinancialinstrumentslinkedtotheAIPoweredUSEquityIndexisnotequivalenttoadirectinvestmentinanypartoftheAIPoweredUSEquityIndex.InvestmentslinkedtotheAIPoweredUSEquityIndexrequireinvestorstoassessseveralcharacteristicsandriskfactorsthatmaynotbepresentinothertypesoftransactions.Inreachingadeterminationastotheappropriatenessofanyproposedtransaction,clientsshouldundertakeathoroughindependentreviewofthelegal,regulatory,credit,tax,accountingandeconomicconsequencesofsuchtransactioninrelationtotheirparticularcircum-stances.Thisbrochurecontainsmarketdatafromvarioussourcesotherthanusandouraffiliates,and,accordingly,wemakenorepresentationorwarrantyastothemarketdata’saccuracyorcompletenessandwearenotobligatedtoupdateanymarketdatapresentedinthisdocument.Allinformationissubjecttochangewithoutnotice.Weorouraffiliatedcompaniesmaymakeamarketordealasprincipalintheinvestmentsmentionedinthisdocumentorinoptions,futuresorotherderivativesbasedthereon. SolactiveAG SolactiveAGistheadministratorandcalculationagentoftheAIPoweredUSEquityIndex.ThefinancialinstrumentsthatarebasedontheAIPoweredUSEquityIndexarenotsponsored,endorsed,promotedorsoldbySolactiveAGinanywayandSolactiveAGmakesnoexpressorimpliedrepresentation,guaranteeorassurancewithregardto:(a)theadvisabilityininvestinginthefinancialinstruments;(b)thequality,accuracyand/orcompletenessoftheIndex;and/or(c)theresultsobtainedortobeobtainedbyanypersonorentityfromtheuseoftheIndex.SolactiveAGdoesnotguaranteetheaccuracyand/orthecompletenessoftheAIPoweredUSEquityIndexandshallnothaveanyliabilityforanyerrorsoromissionswithrespectthereto.SolactiveAGreservestherighttochangethemethodsofcalculation orpublicationandSolactiveAGshallnotbeliableforanymiscalculationoforanyincorrect,delayedorinterruptedpublicationwithrespecttotheAIPoweredUSEquityIndex.SolactiveAGshallnotbeliableforanydamages,including,withoutlimitation,anylossofprofitsorbusiness,oranyspecial,incidental,punitive,indirectorconsequentialdamagessufferedorincurredasaresultoftheuse(orinabilitytouse)oftheAIPoweredUSEquityIndex. UseofSimulatedReturns AnyhistoricalperformanceinformationincludedinthisdocumentpriortoAugust9,2019representsonlyhypotheticalhistoricalresults.NorepresentationisbeingmadethattheAIPoweredUSEquityIndexwillachieveaperformancerecordsimilartothatshown.Infact,theremayoftenbesharpdiffer-encesbetweenhypotheticalperformanceandactualperformance.Back-testingandotherstatisticalanalysismaterialprovidedtoyouinconnectionwiththeexplanationsofthepotentialreturnsassociatedwithaninvestmentinadebtobligationorcertificateofdepositlinkedtotheAIPoweredUSEquityIndexusesimulatedanalysisandhypotheticalassumptionsinordertoillustratethemannerinwhichtheAIPoweredUSEquityIndexmayhaveperformedinperiodspriortotheactualexistenceoftheAIPoweredUSEquityIndex.Alternativemodellingtechniquesorassumptionsmayproducedifferenthypotheticalinformationthatmightprovetobemoreappropriateandthatmightdiffersignificantlyfromthehypotheticalinformationsetforthabove. Theback-testeddatawasproducedbyapplyingtheAIPoweredUSEquityIndexmethodologytohistoricaldata,includinginformationandsourcesavailableateachspecificpointoftimeinhistory.Newinformationandsourceswereincorporatedonetimestepatatimeandonlyinformationwithvalidatedtimestampswasconsidered. Theresultsobtainedfrom“back-testing”informationshouldnotbeconsideredindicativeofactualre-sultsthatmightbeobtainedfromaninvestmentorparticipationinafinancialinstrumentortransactionreferencingtheAIPoweredUSEquityIndex.Youshouldnotplaceunduerelianceonthe“back-testing”information,whichisprovidedforillustrativepurposesonly.HSBCprovidesnoassuranceorguaranteethattheAIPoweredUSEquityIndexwilloperateorwouldhaveoperatedinthepastinamannerconsistentwiththeresultspresentedinthesematerials. Hypotheticalback-testedresultsareneitheranindicatornoraguaranteeoffuturereturns.Actualresultswillvary,perhapsmaterially,fromtheanalysisimpliedinthehypotheticalinformation.YoushouldreviewandconsiderthehypotheticalinformationonlywiththefullAIPoweredUSEquityIndexmethodology. HSBChasfiledaregistrationstatement(includingaprospectusandprospectussupplement)withtheSecuritiesandExchangeCommissionforanyofferingtowhichthisfreewritingprospectusmayrelate.Beforeyouinvest,youshouldreadtheprospectusandprospectussupplementinthatregistrationstatementandotherdocumentsHSBChasfiledwiththeSECformorecompleteinformationaboutHSBCandanyrelatedoffering.YoumaygetthesedocumentsforfreebyvisitingEDGARontheSEC’swebsiteat www.sec.gov .Alternatively,HSBCSecurities(USA)Inc.oranydealerparticipatingintherelatedofferingwillarrangetosendyoutheprospectusandprospectussupplementifyourequestthembycallingtoll-free1-866-811-8049. HSBCoperatesinvariousjurisdictionsthroughitsaffiliates,including,butnotlimitedto,HSBCSecuri-ties(USA)Inc.,memberofNYSE,FINRA,andSIPC. ©2022HSBCUSAInc.Allrightsreserved. MonthlyPerformanceReport-November2022