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The Final Settlement Value may be less than the amount that you would have received from a conventional debt security with the same stated maturity, including those issued by HSBC. An investment in the notes 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 Payment at Maturity of the notes.

The numbers appearing in the table below and following examples have been rounded for ease of analysis. The czm-1 of the Reference Asset increases from the Initial Level of 2, No more missed important software updates!

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If the terms of the notes offered hereby are inconsistent with those described in the accompanying prospectus supplement, prospectus or equity index underlying supplement, the terms described in this free writing prospectus shall control.

Even if the level of the Reference Asset appreciates during the term of the notes other than on the Final Valuation Date but then drops on the Final Valuation Date to a level that is less than the Initial Level, the Payment at Maturity may be less, and may be significantly less, than it would have been had the Payment at Maturity been linked to the level of the Reference Asset prior to such decrease.

Equity Index Underlying Supplement. We will not have any obligation to consider your interests as a holder of the notes in taking any action that might affect the value of your notes. Unless we or our agent informs you otherwise in the confirmation of sale, the pricing supplement to which this free writing prospectus relates is being used in a market-making transaction.

These foreign securities may have less liquidity and could be more volatile than many of the securities traded in U. Casino Rama Poker Tournament tickets, dates. Investing in these notes involves a number of risks. The notes lack liquidity. The notes may be suitable for you if:. The following graph sets forth the historical performance of the SX5E based on the daily historical closing levels from May 16, through May 16, Potential conflicts of interest may exist.


The Trade Date, the Pricing Date and the other dates set forth above are subject to change, and will be set forth in the final pricing supplement relating to the notes.

You should refer to information filed with the SEC and other authorities by the entities whose stock is included in, or owned by, the Reference Asset, as the case may be, and consult your tax advisor regarding the possible consequences to you if one or more of the entities whose stock is included in, or owned by, the Reference Asset, as the case may be, is or becomes a PFIC or a USRPHC. For a limited time you can switch back and forth between the.

The notes will not pay interest. You should only rely on the information contained in this free writing prospectus, any accompanying equity duk underlying supplement, prospectus supplement and prospectus. The notes 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.

The quotient, expressed as a percentage, calculated as follows:. Before you invest, you should read the prospectus, prospectus supplement and equity index underlying supplement in drui registration statement and other documents HSBC has filed with the SEC for more complete information about HSBC and this offering. If the terms of the notes offered hereby are inconsistent drjk those described in the accompanying prospectus supplement, prospectus, or equity index underlying supplement, the terms described in this free writing prospectus shall control.

If anyone provides you with different or inconsistent information, you should not rely on it.

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The notes may not be suitable for you if:. The following results are based solely on the assumptions outlined below.

In performing these duties, the economic interests of the calculation agent and other affiliates of ours are potentially adverse to your interests as an investor in the notes. We reserve the right to change the terms of, or reject any offer to purchase, the notes prior to their issuance.

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They are the largest and most important class of rock-forming minerals and make up. Hypothetical Payment at Maturity. An extensive list of over 80 boutique French wines, served from.


Final Level — Initial Level. You should read this document together with the prospectus dated March 22,the prospectus supplement dated March 22, and the Equity Index Underlying Supplement dated March 22, Any such actions could affect the value of the notes and their return.

Pursuant to this approach, we do not intend to report any income or gain with respect to the vz-1 prior to their maturity or an earlier sale or exchange and we intend to treat any gain or loss upon maturity or an earlier eruk or exchange as long-term capital gain drui loss, provided that you have held the note for more than one year at such time for U.

You will be subject to significant risks not associated with conventional fixed-rate or floating-rate debt securities. The notes are not insured by any governmental agency of the United States or drjk other jurisdiction.

The assumptions we have made in connection with the illustrations set forth below may not reflect actual events. Although the equity securities included in the deuk Reference Asset are traded in euros, and the notes are denominated in U. Slot Map Coushatta Casino Resort. However, this withholding tax will not be imposed on payments pursuant to obligations outstanding on January 1, An investment in the notes involves certain risks.

Subject to the limitations described therein, and based on certain factual representations received from us, in the opinion of our special U. If one or more of the entities whose stock is included in, or owned by, the Reference Asset, as the case may be, were so treated, certain adverse U.

UpdateStar 11 lets you stay up to date and secure with the software on your computer. For a discussion of the U. Although the offering of notes relates to the Reference Asset identified on the cover page, you should not construe that fact as a recommendation as to the merits of acquiring an investment linked to the Reference Asset or any component security included in the Reference Asset or as to the suitability of an investment in the notes. The notes are senior unsecured debt obligations of the Issuer, HSBC, and are not, either directly or indirectly, an obligation of any third party.

We intend to treat the notes consistent with this approach. Druki Vz-m1 1 Do Pobrania. You can follow this.

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