}
|
AMPSTM linked to an equally weighted basket consisting of the S&P 500® Index, the Russell 2000® Index and the iShares® MSCI EAFE Index Fund
|
}
|
3-year maturity
|
}
|
1.5x exposure to any positive return in the reference asset, subject to a maximum return
|
}
|
Protection from the first 20% of any losses in the reference asset, subject to the credit risk of HSBC USA Inc.
|
Price to Public
|
Fees and Commissions1
|
Proceeds to Issuer
|
|
Per security
|
$1,000
|
||
Total
|
Reference Asset
|
Reference Asset Components
|
Component
Weighting
|
Maximum Cap1
|
CUSIP
|
SPX/RTY/EFA Basket
|
S&P 500® Index (“SPX”)
Russell 2000® Index (“RTY”)
iShares® MSCI EAFE Index Fund (“EFA”)
|
1/3
1/3
1/3
|
37.00% to 41.00%
|
4042K1SE4
|
1Expected range. The actual Maximum Cap will be determined on the Pricing Date.
|
Principal Amount
|
$1,000 per security
|
Term
|
3 years
|
Upside
Participation Rate
|
150% (1.5x) exposure to any positive Reference Return, subject to the Maximum Cap
|
Buffer Value
|
-20%
|
Payment at
Maturity
per security
|
If the underlying Reference Return is greater than 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 or equal to zero but greater than or equal to the Buffer Value:
$1,000 (zero return).
If the Reference Return is less than the Buffer Value:
$1,000 + [$1,000 × (Reference Return + 20%)]
For example, if the Reference Return is less than the Buffer Value, you will lose 1% of the Principal Amount of your securities for every 1% decline in the Final Value as compared to the Initial Value. If the Reference Return is less than the Buffer Value you could lose 80% of your initial investment.
|
Reference Return
|
Final Value – Initial Value
Initial Value
|
Initial Value
|
See page FWP-5
|
Final Value
|
See page FWP-5
|
Pricing Date
|
November 18, 2011
|
Trade Date
|
November 18, 2011
|
Original Issue Date
|
November 28, 2011
|
Final Valuation Date
|
November 18, 2014
|
Maturity Date
|
November 25, 2014
|
The offering period for the AMPS is through November 18, 2011
|
Payoff Example
|
||
The table at right shows the hypothetical payout profile of an investment in the securities reflecting the 150% (1.5x) Upside Participation Rate and a hypothetical Maximum Cap of 37.00%. The actual Maximum Cap will be determined on the Pricing Date and will not be less than 37.00% or greater than 41.00%.
|
![]() |
The following graph illustrates the hypothetical daily historical performance of the SPX/RTY/EFA Basket from October 28, 2006 through October 28, 2011 based on information from Bloomberg Professional® service, if the level of the Basket was made to equal 100 on October 28, 2006. The hypothetical historical performance reflects the performance the Basket would have exhibited based on (i) the actual historical performance of the Reference Asset Components and (ii) the assumption that no adjustment to the Official Closing Value occurred from October 28, 2006 through October 28, 2011 for any Reference Asset Component. Neither the hypothetical historical performance of the Basket nor the actual historical performance of the Reference Asset Components should be taken as indications of future performance.
We cannot give you assurance that the performance of the Basket will result in the return of your initial investment. You may lose up to 80% of your investment.
|
HSBC USA Inc.
Buffered 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:
|
The underlying basket consisting of two indices and one index fund (each, a “Reference Asset Component”), as indicated below
|
Reference Asset
|
Reference Asset Components
|
Upside Participation
Rate
|
Maximum Cap1
|
CUSIP/ISIN
|
SPX/RTY/EFA Basket:
|
S&P 500® Index (“SPX”)
Russell 2000® Index (“RTY”)
iShares® MSCI EAFE Index Fund (“EFA”)
|
150%
|
37.00% to 41.00%
|
4042K1SE4 /
|
1Expected range. The actual Maximum Cap will be determined on the Pricing Date.
|
|||||||||
Trade Date:
|
November 18, 2011
|
||||||||
Pricing Date:
|
November 18, 2011
|
||||||||
Original Issue Date:
|
November 28, 2011
|
||||||||
Final Valuation Date:
|
November 18, 2014, subject to adjustment as described below under the caption “Final Valuation Date and Maturity Date.”
|
||||||||
Maturity Date:
|
5 business days after the Final Valuation Date, which is expected to be November 25, 2014. The Maturity Date is subject to adjustment as described below under the caption “Final Valuation Date and Maturity Date.”
|
||||||||
Payment at Maturity:
|
On the Maturity Date, for each security, we will pay you the Final Settlement Value.
|
||||||||
Component Weighting:
|
With respect to the SPX, 1/3, with respect to the RTY, 1/3 and with respect to the EFA, 1/3.
|
Final Settlement Value:
|
If the Reference Return is greater than 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 or equal to zero but greater than or equal to the Buffer Value, you will receive $1,000 per $1,000 Principal Amount of securities (zero return).
If the Reference Return is less than the Buffer Value, you will receive a cash payment on the Maturity Date, per $1,000 Principal Amount of securities, calculated as follows:
$1,000 + [$1,000 × (Reference Return + 20%)].
Under these circumstances, you will lose 1% of the Principal Amount of your securities for each percentage point that the Reference Return is below the Buffer Value. For example, because the buffer protects the first 20% of loss, if the Reference Return is -30%, you will suffer a 10% loss and receive 90% of the Principal Amount. If the Reference Return is less than the Buffer Value, you may lose up to 80% of your investment.
|
Reference Return:
|
The quotient, expressed as a percentage, calculated as follows:
|
Final Value – Initial Value
Initial Value
|
|
Buffer Value:
|
-20%
|
Initial Value:
|
Set equal to 100 on the Pricing Date.
|
Final Value:
|
The Closing Value on the Final Valuation Date.
|
Closing Value:
|
On any scheduled trading day, the Reference Asset Closing Value will be calculated as follows:
100 × [1 + (sum of the Reference Asset Component Return multiplied by the respective Component Weighting for each Reference Asset Component)]
Each of the Reference Asset Component Returns set forth in the formula above refers to the return for the Reference Asset Component, which reflects the performance of the Reference Asset Component, expressed as the percentage change from the Initial Component Value of that Reference Asset Component to the Final Component Value of that Reference Asset Component.
|
Initial Component Value:
|
With respect to each Reference Asset Component, the Official Closing Value (as defined below) of the respective Reference Asset Component as determined by the calculation agent on the Pricing Date.
|
Final Component Value:
|
With respect to each Reference Asset Component, the Official Closing Value of the respective Reference Asset Component on the Final Valuation Date.
|
Official Closing Value:
|
With respect to each Reference Asset Component, the Official Closing Value on any scheduled trading day will be determined by the calculation agent based upon the closing level of such index or closing price of such index fund, as applicable, displayed on the relevant Bloomberg Professional® service page (with respect to the SPX, “SPX <INDEX>”, with respect to the RTY, “RTY <INDEX>” and with respect to the EFA, “EFA UP <EQUITY>”) and with respect to the EFA, adjusted by the calculation agent as described under “Additional Terms of the Notes—Antidiluton and Reorganization Adjustments” in the accompanying underlying supplement no. 4 or, for each Reference Asset Component, 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.
|
}
|
The underlying supplement no. 3 at: http://www.sec.gov/Archives/edgar/data/83246/000114420410055205/v198039_424b2.htm
|
}
|
The underlying supplement no. 4 at: http://www.sec.gov/Archives/edgar/data/83246/000114420410055207/v199610_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 up to the Maximum Cap and you believe the value of such Reference Asset will increase over the term of the securities.
|
}
|
You are willing to invest in the securities based on the Maximum Cap indicated herein, 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 below -20%.
|
}
|
You do not 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 willing to forego dividends or other distributions paid to holders of stocks comprising the Reference Asset Components, or the Reference Asset Components themselves, as applicable.
|
}
|
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 indicated herein, 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 -20%.
|
}
|
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 Components, or the Reference Asset Components themselves, as applicable.
|
}
|
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;
|
}
|
“— Additional Risks Relating to Notes with an Equity Security or Equity Index as the Reference Asset” in the prospectus supplement;
|
}
|
“— Additional Risks Relating to Certain Notes with More than One Instrument Comprising the Reference Asset” in the prospectus supplement;
|
}
|
“— Additional Risks Relating to Notes Linked to the Performance of Exchange-Traded Funds” in the product supplement;
|
}
|
“— There are Risks Associated with Small Capitalization Stocks” in underlying supplement no. 3;
|
}
|
“— Securities Prices Generally are Subject to Political, Economic, Financial, and Social Factors that Apply to the Markets in which they Trade and to a Lesser Extent, Foreign Markets” in underlying supplement no. 4; and
|
}
|
“— The Notes are Subject to Currency Exchange Risk” in underlying supplement no. 4.
|
}
|
Principal Amount:
|
$1,000
|
}
|
Upside Participation Rate:
|
150%
|
}
|
Hypothetical Maximum Cap:
|
37.00% (The actual Maximum Cap will be determined on the Pricing Date and will not be less than 37.00% or greater than 41.00%)
|
Hypothetical
Reference Return
|
Hypothetical Payment
at Maturity
|
Hypothetical Return on
the Security
|
100.00%
|
$1,370.00
|
37.00%
|
80.00%
|
$1,370.00
|
37.00%
|
60.00%
|
$1,370.00
|
37.00%
|
40.00%
|
$1,370.00
|
37.00%
|
24.67%
|
$1,370.00
|
37.00%
|
20.00%
|
$1,300.00
|
30.00%
|
15.00%
|
$1,225.00
|
22.50%
|
10.00%
|
$1,150.00
|
15.00%
|
5.00%
|
$1,075.00
|
7.50%
|
2.00%
|
$1,030.00
|
3.00%
|
1.00%
|
$1,015.00
|
1.50%
|
0.00%
|
$1,000.00
|
0.00%
|
-1.00%
|
$1,000.00
|
0.00%
|
-2.00%
|
$1,000.00
|
0.00%
|
-5.00%
|
$1,000.00
|
0.00%
|
-10.00%
|
$1,000.00
|
0.00%
|
-15.00%
|
$1,000.00
|
0.00%
|
-20.00%
|
$1,000.00
|
0.00%
|
-30.00%
|
$900.00
|
-10.00%
|
-40.00%
|
$800.00
|
-20.00%
|
-60.00%
|
$600.00
|
-40.00%
|
-80.00%
|
$400.00
|
-60.00%
|
-100.00%
|
$200.00
|
-80.00%
|
Reference Return:
|
5.00%
|
Final Settlement Value:
|
$1,075.00
|
Reference Return:
|
30.00%
|
Final Settlement Value:
|
$1,370.00
|
Reference Return:
|
-5.00%
|
Final Settlement Value:
|
$1,000.00
|
Reference Return:
|
-30.00%
|
|
Final Settlement Value:
|
$900.00
|
INFORMATION RELATING TO THE REFERENCE ASSET
|
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 October 28, 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 October 30, 2006 through October 28, 2011. The closing level for the SPX on October 28, 2011 was 1,285.09. 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.
![]() |
The historical levels of the SPX should not be taken as an indication of future performance, and no assurance can be given as to the Official Closing Value of the SPX on the Final Valuation Date.
|
Description of the RTY
RTY is designed to track the performance of the small capitalization segment of the United States equity market. All 2,000 stocks are traded on the New York Stock Exchange or NASDAQ, and 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 United States companies as determined by market capitalization and represents approximately 98% of the United States equity market.
The top 5 industry groups by market capitalization as of September 30, 2011 were: Financial Services, Technology, Consumer Discretionary, Producer Durables and Health Care.
For more information about the RTY, see “The Russell 2000Ò Index” on page US3-8 of the accompanying underlying supplement no. 3.
|
Historical Performance of the RTY
The following graph sets forth the historical performance of the RTY based on the daily historical closing levels from October 30, 2006 through October 28, 2011. The closing level for the RTY on October 28, 2011 was 761.00. 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.
![]() |
The historical levels of the RTY should not be taken as an indication of future performance, and no assurance can be given as to the Official Closing Value of the RTY on the Final Valuation Date.
|
Description of the EFA
The EFA seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of publicly traded securities in the European, Australasian, and Far Eastern markets, as measured by the MSCI EAFE® Index, which is the Underlying Index of the EFA. As of October 28, 2011, the MSCI EAFEÒ Index consisted of the following 22 component country indices: Australia, Austria, Belgium, Denmark, Finland, France, Germany, Greece, Hong Kong, Ireland, Israel, Italy, Japan, Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, and the United Kingdom.
For more information about the EFA, see “The iSharesÒ MSCI EAFE Index Fund” on page US4-25 of the accompanying underlying supplement no. 4.
|
Historical Performance of the EFA
The following graph sets forth the historical performance of the EFA based on the daily historical closing prices from October 30, 2006 through October 28, 2011. The closing price for the EFA on October 28, 2011 was $55.20. We obtained the closing prices 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.
![]() |
The historical prices of the EFA should not be taken as an indication of future performance, and no assurance can be given as to the Official Closing Value of the EFA on the Final Valuation Date.
|
Quarter Begin
|
Quarter End
|
Quarterly High
|
Quarterly Low
|
Quarterly Close
|
1/3/2006
|
3/31/2006
|
$65.52
|
$60.25
|
$64.99
|
4/3/2006
|
6/30/2006
|
$70.65
|
$59.40
|
$65.35
|
7/3/2006
|
9/29/2006
|
$68.52
|
$60.94
|
$67.78
|
10/2/2006
|
12/29/2006
|
$74.66
|
$67.61
|
$73.26
|
1/3/2007
|
3/30/2007
|
$77.18
|
$70.95
|
$76.27
|
4/2/2007
|
6/29/2007
|
$81.79
|
$76.05
|
$80.63
|
7/2/2007
|
9/28/2007
|
$85.50
|
$67.99
|
$82.56
|
10/1/2007
|
12/31/2007
|
$86.49
|
$78.00
|
$78.50
|
1/2/2008
|
3/31/2008
|
$79.22
|
$65.63
|
$71.90
|
4/1/2008
|
6/30/2008
|
$78.76
|
$68.06
|
$68.70
|
7/1/2008
|
9/30/2008
|
$68.39
|
$52.36
|
$56.30
|
10/1/2008
|
12/31/2008
|
$56.42
|
$35.53
|
$44.87
|
1/2/2009
|
3/31/2009
|
$45.61
|
$31.56
|
$37.59
|
4/1/2009
|
6/30/2009
|
$49.18
|
$37.28
|
$45.81
|
7/1/2009
|
9/30/2009
|
$56.31
|
$43.49
|
$54.70
|
10/1/2009
|
12/31/2009
|
$57.66
|
$52.42
|
$55.30
|
1/4/2010
|
3/31/2010
|
$58.00
|
$49.94
|
$56.00
|
4/1/2010
|
6/30/2010
|
$58.08
|
$45.86
|
$46.51
|
7/1/2010
|
9/30/2010
|
$55.81
|
$46.45
|
$54.92
|
10/1/2010
|
12/31/2010
|
$59.50
|
$53.85
|
$58.23
|
1/3/2011
|
3/31/2011
|
$61.98
|
$54.69
|
$60.09
|
4/1/2011
|
6/30/2011
|
$64.35
|
$56.71
|
$60.14
|
7/1/2011
|
9/30/2011
|
$60.86
|
$46.09
|
$47.75
|
10/3/2011*
|
10/28/2011*
|
$55.86
|
$45.46
|
$55.20
|
TABLE OF CONTENTS
|
You should only rely on the information contained in this free writing prospectus, any accompanying underlying supplement, product supplement, prospectus 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, any accompanying underlying supplement, product supplement, prospectus supplement and prospectus. If anyone provides you with different or inconsistent information, you should not rely on it. This free writing prospectus, any accompanying underlying supplement, product supplement, prospectus 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, any accompanying underlying supplement, product supplement, prospectus supplement and prospectus is correct on any date after their respective dates.
HSBC USA Inc.
$ Buffered Accelerated Market
Participation Securities
November 1, 2011
FREE WRITING PROSPECTUS
|
||
Free Writing Prospectus
|
|||
General
|
FWP-6
|
||
Payment at Maturity
|
FWP-6
|
||
Investor Suitability
|
FWP-7
|
||
Risk Factors
|
FWP-8
|
||
Illustrative Examples
|
FWP-11
|
||
Information Relating to the Reference Asset
|
FWP-13
|
||
Final Valuation Date and Maturity Date
|
FWP-15
|
||
Events of Default and Acceleration
|
FWP-16
|
||
Supplemental Plan of Distribution (Conflicts of Interest)
|
FWP-16
|
||
U.S. Federal Income Tax Considerations
|
FWP-16
|
||
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
|
||
Underlying Supplement no. 4
|
|||
Risk Factors
|
US4-2
|
||
The SPDR® Dow Jones Industrial AverageSM ETF Trust
|
US4-9
|
||
The POWERSHARES QQQ TRUSTSM, SERIES 1
|
US4-12
|
||
The iShares® MSCI Mexico Investable Market Index Fund
|
US4-16
|
||
The iShares® MSCI Brazil Index Fund
|
US4-19
|
||
The iShares® MSCI Emerging Markets Index Fund
|
US4-22
|
||
The iShares® MSCI EAFE Index Fund
|
US4-25
|
||
The SPDR Trust Series 1
|
US4-27
|
||
The Market Vectors Gold Miners ETF
|
US4-31
|
||
The Oil Service HOLDRSSM Trust
|
US4-34
|
||
The iShares® Dow Jones U.S. Real Estate Index Fund
|
US4-36
|
||
The iShares® FTSE/Xinhua China 25 Index Fund
|
US4-39
|
||
The iShares® S&P Latin America 40 Index Fund
|
US4-43
|
||
The Financial Select Sector SPDR® Fund
|
US4-46
|
||
The Semiconductor HOLDRSSM Trust
|
US4-49
|
||
The iShares® Dow Jones Transportation Average Index Fund
|
US4-51
|
||
The Energy Select SPDR® Fund
|
US4-53
|
||
The Health Care Select SPDR® Fund
|
US4-56
|
||
Other Components
|
US4-59
|
||
Additional Terms of the Notes
|
US4-59
|
||
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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