}
|
AMPSTM linked to the S&P 500® Index
|
}
|
18-month maturity
|
}
|
3x exposure to any positive return in the reference asset, subject to a maximum return
|
}
|
1x exposure to any negative return in the relevant reference asset
|
Price to Public
|
Fees and Commissions1
|
Proceeds to Issuer
|
|
Per security
|
$1,000
|
||
Total
|
Principal Amount
|
$1,000 per security
|
Term
|
18 months
|
Reference Asset
|
S&P 500® Index (“SPX”)
|
Upside Participation Rate
|
300% (3x) exposure to any positive Reference Return, subject to the Maximum Cap
|
Downside Exposure
|
100% (1x) exposure to any negative Reference Return
|
Maximum Cap
|
15.00% to 21.00% (to be determined on the Pricing Date)
|
Payment at Maturity per security
|
If the Reference Return is greater than or equal to zero, you will receive the lesser of:
a) $1,000 + ($1,000 × Reference Return × Upside Participation Rate); and
b) $1,000 + ($1,000 × Maximum Cap).
If the Reference Return is less than zero:
$1,000 + ($1,000 × Reference Return).
If the Reference Return is less than zero, you may lose up to 100% of your investment.
|
Reference Return
|
Final Level – Initial Level
Initial Level
|
Initial Level
|
See page FWP-5
|
Final Level
|
See page FWP-5
|
Trade Date
|
September 22, 2011
|
Pricing Date
|
September 22, 2011
|
Settlement Date
|
September 27, 2011
|
Final Valuation Date
|
March 22, 2013
|
Maturity Date
|
March 27, 2013
|
CUSIP
|
4042K1MN0
|
The offering period for the AMPS is through September 22, 2011
|
Payoff Example
The table at right shows the hypothetical payout profile of an investment in the securities reflecting the 300% (3x) Upside Participation Rate and assuming a 15.00% Maximum Cap. The actual Maximum Cap will be determined on the Pricing Date and will not be less than 15.00% or greater than 21.00%.
|
S&P 500® Index
|
|
The SPX is a capitalization-weighted index of 500 U.S. stocks. It is designed to measure performance of the broad domestic economy through changes in the aggregate market value of 500 stocks representing all major industries.
The top 5 industry groups by market capitalization as of August 24, 2011 were: Information Technology, Financials, Energy, Health Care and Consumer Staples.
|
Source: Bloomberg Professional® service
|
HSBC USA Inc.
Accelerated Market Participation SecuritiesTM (AMPS)
|
Issuer:
|
HSBC USA Inc.
|
Issuer Rating:
|
AA- (S&P), A1 (Moody’s), AA (Fitch)†
|
Principal Amount:
|
$1,000 per security
|
Reference Asset:
|
S&P 500® Index (Ticker: SPX)
|
Trade Date:
|
September 22, 2011
|
Pricing Date:
|
September 22, 2011
|
Settlement Date:
|
September 27, 2011
|
Final Valuation Date:
|
March 22, 2013. The Final Valuation Date is subject to adjustment as described under “Additional Terms of the Notes” in the accompanying underlying supplement.
|
Maturity Date:
|
3 business days after the Final Valuation Date, which is expected to be March 27, 2013. The Maturity Date is subject to adjustment as described under “Additional Terms of the Notes” in the accompanying underlying supplement.
|
Upside Participation Rate:
|
300%
|
Maximum Cap:
|
15.00% to 21.00% (to be determined on the Pricing Date)
|
Payment at Maturity:
|
On the Maturity Date, for each security, we will pay you the Final Settlement Value.
|
Final Settlement Value:
|
If the Reference Return is greater than or equal to zero, you will receive a cash payment on the Maturity Date, per $1,000 Principal Amount of securities, equal to the lesser of:
(a) $1,000 + ($1,000 × Reference Return × Upside Participation Rate); and
(b) $1,000 + ($1,000 × Maximum Cap).
If the Reference Return is less than zero, you will receive a cash payment on the Maturity Date, per $1,000 Principal Amount of securities, equal to:
$1,000 + ($1,000 × Reference Return).
Under these circumstances, you will lose 1% of the Principal Amount of your securities for each percentage point that the Reference Return is below zero. For example, if the Reference Return is -30%, you will suffer a 30% loss and receive 70% of the Principal Amount. If the Reference Return is less than zero, you may lose up to 100% of your investment.
|
Reference Return:
|
The quotient, expressed as a percentage, calculated as follows:
Final Level – Initial Level
Initial Level
|
Initial Level:
|
The Official Closing Level of the S&P 500® Index on the Pricing Date.
|
Final Level:
|
The Official Closing Level of the S&P 500® Index on the Final Valuation Date.
|
Official Closing Level:
|
The closing level of the S&P 500® Index on any scheduled trading day as determined by the calculation agent based upon the level displayed on Bloomberg Professional® service page “SPX <INDEX>,” or on any successor page on Bloomberg Professional® service or any successor service, as applicable.
|
Form of securities:
|
Book-Entry
|
Listing:
|
The securities will not be listed on any U.S. securities exchange or quotation system.
|
CUSIP / ISIN:
|
4042K1MN0 /
|
}
|
The underlying supplement no. 3 at: http://www.sec.gov/Archives/edgar/data/83246/000114420410055205/v198039_424b2.htm
|
}
|
The product supplement at: http://www.sec.gov/Archives/edgar/data/83246/000114420409019791/v145840_424b2.htm
|
}
|
The prospectus supplement at: http://www.sec.gov/Archives/edgar/data/83246/000114420409019785/v145824_424b2.htm
|
}
|
}
|
You seek an investment with an enhanced return linked to the potential positive performance of the Reference Asset and you believe the level of the Reference Asset will increase over the term of the securities, but not by more than the Maximum Cap as leveraged by the Upside Participation Rate.
|
}
|
You are willing to invest in the securities based on the Maximum Cap (to be determined on the Pricing Date), which may limit your return at maturity.
|
}
|
You are willing to make an investment that is exposed to the negative Reference Return on a 1-to-1 basis for each percentage point that the Reference Return is less than zero.
|
}
|
You are willing to forego dividends or other distributions paid to holders of the stocks comprising the Reference Asset.
|
}
|
You do not seek current income from your investment.
|
}
|
You do not seek an investment for which there is an active secondary market.
|
}
|
You are willing to hold the securities to maturity.
|
}
|
You are comfortable with the creditworthiness of HSBC, as issuer of the securities.
|
}
|
You believe the Reference Return will be negative on the Final Valuation Date or that the Reference Return will not be sufficiently positive to provide you with your desired return.
|
}
|
You are unwilling to invest in the securities based on the Maximum Cap (to be determined on the Pricing Date), which may limit your return at maturity.
|
}
|
You are unwilling to make an investment that is exposed to the negative Reference Return on a 1-to-1 basis for each percentage point that the Reference Return is below zero.
|
}
|
You seek an investment that provides a full return of principal.
|
}
|
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 prefer to receive the dividends or other distributions paid on any stocks comprising the Reference Asset.
|
}
|
You seek current income from your investment.
|
}
|
You seek an investment for which there will be an active secondary market.
|
}
|
You are unable or unwilling to hold the securities to maturity.
|
}
|
You are not willing or are unable to assume the credit risk associated with HSBC, as issuer of the securities.
|
}
|
“— Risks Relating to All Note Issuances” in the prospectus supplement; and
|
}
|
“— Additional Risks Relating to Notes with an Equity Security or Equity Index as the Reference Asset” in the prospectus supplement.
|
|
·
|
Principal Amount:
|
$1,000
|
|
·
|
Upside Participation Rate:
|
300%
|
|
·
|
Hypothetical Initial Level:
|
1,177.60
|
|
·
|
Hypothetical Maximum Cap:
|
15.00% (The actual Maximum Cap will be determined on the Pricing Date and will not be less than 15.00% or greater than 21.00%)
|
Hypothetical
Final Level |
Hypothetical
Reference Return |
Hypothetical
Total Return |
2,355.20
|
100.00%
|
15.00%
|
2,237.44
|
90.00%
|
15.00%
|
2,119.68
|
80.00%
|
15.00%
|
2,001.92
|
70.00%
|
15.00%
|
1,884.16
|
60.00%
|
15.00%
|
1,766.40
|
50.00%
|
15.00%
|
1,648.64
|
40.00%
|
15.00%
|
1,530.88
|
30.00%
|
15.00%
|
1,413.12
|
20.00%
|
15.00%
|
1,354.24
|
15.00%
|
15.00%
|
1,295.36
|
10.00%
|
15.00%
|
1,236.48
|
5.00%
|
15.00%
|
1,201.15
|
2.00%
|
6.00%
|
1,189.38
|
1.00%
|
3.00%
|
1,177.60
|
0.00%
|
0.00%
|
1,165.82
|
-1.00%
|
-1.00%
|
1,154.05
|
-2.00%
|
-2.00%
|
1,118.72
|
-5.00%
|
-5.00%
|
1,059.84
|
-10.00%
|
-10.00%
|
1,000.96
|
-15.00%
|
-15.00%
|
942.08
|
-20.00%
|
-20.00%
|
824.32
|
-30.00%
|
-30.00%
|
706.56
|
-40.00%
|
-40.00%
|
588.80
|
-50.00%
|
-50.00%
|
471.04
|
-60.00%
|
-60.00%
|
353.28
|
-70.00%
|
-70.00%
|
235.52
|
-80.00%
|
-80.00%
|
117.76
|
-90.00%
|
-90.00%
|
0.00
|
-100.00%
|
-100.00%
|
Reference Asset
|
|
Initial Level
|
1,177.60
|
Final Level
|
1,201.15
|
Reference Return
|
2.00%
|
Final Settlement Value:
|
$1,060.00
|
Reference Asset
|
|
Initial Level
|
1,177.60
|
Final Level
|
1,354.24
|
Reference Return
|
15.00%
|
Final Settlement Value:
|
$1,150.00
|
Reference Asset
|
|
Initial Level
|
1,177.60
|
Final Level
|
824.32
|
Reference Return
|
-30.00%
|
Final Settlement Value:
|
$700.00
|
Description of the SPX
The SPX is a capitalization-weighted index of 500 U.S. stocks. It is designed to measure performance of the broad domestic economy through changes in the aggregate market value of 500 stocks representing all major industries.
The top 5 industry groups by market capitalization as of August 24, 2011 were: Information Technology, Financials, Energy, Health Care and Consumer Staples.
For more information about the SPX, see “The S&P 500Ò Index” on page US3-4 of the accompanying underlying supplement no. 3.
|
Historical Performance of the SPX
The following graph sets forth the historical performance of the SPX based on the daily historical closing levels from August 24, 2006 through August 24, 2011. The closing level for the SPX on August 24, 2011 was 1,177.60. We obtained the closing levels below from Bloomberg Professional® service. We make no representation or warranty as to the accuracy or completeness of the information obtained from Bloomberg Professional® service.
Source: Bloomberg Professional® service
|
You should only rely on the information contained in this free writing prospectus, the accompanying underlying supplement, prospectus supplement, product supplement and prospectus. We have not authorized anyone to provide you with information or to make any representation to you that is not contained in this free writing prospectus, the accompanying underlying supplement, prospectus supplement, product supplement and prospectus. If anyone provides you with different or inconsistent information, you should not rely on it. This free writing prospectus, the accompanying underlying supplement, prospectus supplement, product supplement and prospectus are not an offer to sell these securities, and these documents are not soliciting an offer to buy these securities, in any jurisdiction where the offer or sale is not permitted. You should not, under any circumstances, assume that the information in this free writing prospectus, the accompanying underlying supplement, product supplement, prospectus supplement and prospectus is correct on any date after their respective dates.
HSBC USA Inc.
$ Accelerated Market
Participation Securities linked to the S&P 500® Index August 30, 2011
FREE WRITING PROSPECTUS
|
|||
TABLE OF CONTENTS
|
|||
Free Writing Prospectus
|
|||
General
|
FWP-6
|
||
Payment at Maturity
|
FWP-6
|
||
Investor Suitability
|
FWP-7
|
||
Risk Factors
|
FWP-8
|
||
Illustrative Examples
|
FWP-10
|
||
The S&P 500® Index
|
FWP-12
|
||
Supplemental Plan of Distribution (Conflicts of Interest)
|
FWP-13
|
||
Certain U.S. Federal Income Tax Considerations
|
FWP-13
|
||
Underlying Supplement no. 3
|
|||
Risk Factors
|
US3-1
|
||
The S&P 500® Index
|
US3-4
|
||
The Russell 2000® Index
|
US3-8
|
||
The Dow Jones Industrial AverageSM
|
US3-11
|
||
The Hang Seng China Enterprises Index®
|
US3-13
|
||
The Hang Seng® Index
|
US3-15
|
||
The Korea Stock Price Index 200
|
US3-17
|
||
MSCI Indices
|
US3-20
|
||
The Dow Jones EURO STOXX 50® Index
|
US3-24
|
||
The PHLX Housing SectorSM Index
|
US3-26
|
||
The TOPIX® Index
|
US3-30
|
||
The NASDAQ-100 Index®
|
US3-33
|
||
S&P BRIC 40 Index
|
US3-37
|
||
The Nikkei 225 Index
|
US3-40
|
||
The FTSE™ 100 Index
|
US3-42
|
||
Other Components
|
US3-44
|
||
Additional Terms of the Notes
|
US3-44
|
||
Product Supplement
|
|||
Notice to Investors
|
PS-1
|
||
Product Supplement Summary
|
PS-1
|
||
Risk Factors
|
PS-4
|
||
Pricing Supplement Overview
|
PS-7
|
||
Valuation of the Notes
|
PS-7
|
||
Hypothetical Examples
|
PS-10
|
||
Specific Terms of the Notes
|
PS-19
|
||
Certain U.S. Federal Income Tax Considerations
|
PS-24
|
||
Events of Default and Acceleration
|
PS-25
|
||
Information Regarding the Reference Asset and
|
|||
Reference Issuers
|
PS-25
|
||
Certain ERISA Considerations
|
PS-25
|
||
Validity of the Notes
|
PS-25
|
||
Prospectus Supplement
|
|||
Risk Factors
|
S-3
|
||
Pricing Supplement
|
S-16
|
||
Description of Notes
|
S-16
|
||
Sponsors or Issuers and Reference Asset
|
S-37
|
||
Use of Proceeds and Hedging
|
S-37
|
||
Certain ERISA
|
S-38
|
||
Certain U.S. Federal Income Tax Considerations
|
S-39
|
||
Supplemental Plan of Distribution
|
S-52
|
||
Prospectus
|
|||
About this Prospectus
|
2
|
||
Special Note Regarding Forward-Looking Statements
|
2
|
||
HSBC USA Inc.
|
3
|
||
Use of Proceeds
|
3
|
||
Description of Debt Securities
|
4
|
||
Description of Preferred Stock
|
16
|
||
Description of Warrants
|
22
|
||
Description of Purchase Contracts
|
26
|
||
Description of Units
|
29
|
||
Book-Entry Procedures
|
32
|
||
Limitations on Issuances in Bearer Form
|
36
|
||
Certain U.S. Federal Income Tax Considerations
|
|||
Relating to Debt Securities
|
37
|
||
Plan of Distribution
|
52
|
||
Notice to Canadian Investors
|
54
|
||
Certain ERISA Matters
|
58
|
||
Where You Can Find More Information
|
59
|
||
Legal Opinions
|
59
|
||
Experts
|
59
|
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