You should consider carefully whether the Notes are suitable to your investment goals. You should understand the risks of investing in the Notes and should reach an investment decision only after careful consideration, with your advisors, of the suitability of the Notes in light of your particular financial circumstances and the information set forth in this pricing supplement and the accompanying prospectus, prospectus supplement and Equity Index Underlying Supplement. The Notes may be suitable for you if:. Popular posts from this blog. These pricing models consider certain assumptions and variables, which can include volatility and interest rates. Example 1 shows that you will receive the return of your principal investment plus the final Contingent Coupon when the Final Level of the Least Performing Underlying is above its Barrier Level even though the increase in the level of the Least Performing Underlying is significant.

The prospectus supplement at: 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 Notes to be more favorable to you. As a result, you could lose all or some of the Principal Amount investment if the Final Level of the Least Performing Underlying is less than its Barrier Level, even if there is an increase in the level of the other Underlying. The Notes do not guarantee any return of principal. Filed Pursuant to Rule b 2. With respect to each Underlying, the quotient, expressed as a percentage, calculated as follows:.

Notice to Canadian Investors.

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We will not necessarily make periodic coupon payments on the Notes. 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.

Different pricing models and assumptions could provide valuations for the Notes that are different from our Eoisode Initial Value. We urge you to consult your investment, legal, tax, accounting and other advisors before you invest in the Notes. The reference sponsor may discontinue or suspend calculation or dissemination of the relevant Underlying. When is Eid,,?


This could be the case even if the other Underlying increased by an amount greater than the decrease in the Least Performing Underlying. Here you will find Consolidated Laws, including session laws passed by the state senate and assembly, the Constitution and Court Acts, and organized by.

State Government Home Page: When is Ramadan in ? Prospectus Supplement dated March 5, and. Generally, this non-payment of the Contingent Coupon coincides with a period of greater risk of principal loss on the Notes.

This pricing supplement relates to a single offering of Autocallable Barrier Notes with Contingent Return. Calculation of Registration Fee. HSBC and its affiliates play a variety of roles in connection with the issuance of the Notes, including acting as calculation agent and hedging our obligations under the Notes.

New York also allows samesex couples to get married. You are not willing to forgo dividends or other distributions paid to holders of the stocks included in the Underlyings.

The offering will have the terms described in this pricing supplement and the accompanying prospectus supplement, prospectus and Equity Index Underlying Supplement. In damily, small-capitalization companies are often less stable financially than large-capitalization companies and may depend on a small number of key personnel, 11 them more vulnerable to loss of personnel.

Final Level — Initial Level. This article shall be known as the Human Rights Law. The RTY tracks companies that are considered small-capitalization companies. Employment Laws known as Labor Standards. The State of New York does not imply approval of the listed destinations, warrant the accuracy of any information set out in those destinations, or endorse any opinions expressed therein.

Any sale ja3mi the Notes prior jak3i maturity could result in a loss to you.

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The price of your Notes in the secondary market, if any, immediately after the Pricing Date may be less than the price to public.

The Estimated Initial Value of the Notes was calculated by us on the Pricing Date and is less than the price to public. Any payment to be made on the Notes, including any Contingent Coupons and any return of principal at maturity or upon early redemption, as applicable, depends on the ability of HSBC to satisfy its obligations as they come due. Plan of Distribution Conflicts of Interest. For ham3i discussion of the U. Title of Each Class of Securities Offered. The episodde graph sets forth the historical performance of faimly SPX based on the daily episodw closing levels from January 1, through November 18, The New York State minimum wage increased on December 31, If on each of the Coupon Observation Dates, the Official Closing Price of either Underlying is less than its Coupon Trigger, we will not pay you any Contingent Coupons during the term of, and you will not receive a positive return on, the Notes.


Instead, your return would depend on the Least Performing Underlying. The amount payable on the Notes is not linked to the levels of the Underlyings at any time other than the Coupon Observation Dates, including the Final Valuation Date. Limitations on Issuances in Bearer Form. This pricing supplement, the accompanying Equity Index Underlying Supplement, prospectus supplement and prospectus are not an offer to sell eoisode Notes, and these elisode are not soliciting an offer to buy these Notes, in any jurisdiction where the offer or sale is not permitted.

The securities are subject to small-capitalization risk. The assumptions we have made in connection with the illustrations set forth below may not reflect actual events. Equity Index Underlying Supplement.