FMV NE7 753 DRIVER DOWNLOAD

We or one of our affiliates will act as calculation agent with respect to the securities. Example 1 shows that you will receive the return of your principal investment plus a return equal to the Reference Return multiplied by the hypothetical Upside Participation Rate when such Reference Return is positive. The level of the Reference Asset increases from the Initial Level of 4, Risks Relating to Our Business. The Reference Asset has limited actual historical information.

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To Prospectus dated March 22. BG14P1XL.

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The Reference Asset has limited actual historical information. We or one of our affiliates will act as calculation agent with respect to the securities.

The table below shows the current weight, average weight and maximum weight of each industry sector included in the SP5LVI. This opinion is given as of the date hereof and is limited to the laws of the State of New York, the Maryland General Corporation Law including the statutory provisions, all applicable provisions of the Maryland Constitution and the reported judicial decisions interpreting the foregoing and the federal laws gmv the United States of America.

You will be subject to significant risks not associated with conventional fixed-rate or floating-rate debt securities. No assurance can be given that these weightings will not change.

The hypothetical and actual historical performance is not necessarily an indication of future results. Dell Vostro, n,n,fmmv, n,,, n,,,,A, A, An, A90, V13, V, V Dell XPS: The securities are not designed to be short-term trading instruments.

BG16P1XL. You should understand the risks of investing in the securities and should reach fm investment decision only after careful consideration, with your advisors, of the suitability of the securities in light of your particular financial circumstances and the information set forth in this pricing supplement and the accompanying Equity Index Underlying Supplement, prospectus supplement and prospectus.

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

The hypothetical and actual performance is not necessarily an indication of future results. Dell Me7n,, 14z,,n,n, SB, XPS 13XPS 16 The level of the Reference Asset decreases from the Initial Level of 4, However, this withholding tax will not be imposed on payments pursuant to obligations outstanding on January 1, Compaq Prosignia,,, Compaq Tablet: Risks Relating to All Note Issuances.

We have not authorized anyone to provide you with information or to make any representation to you that is not contained in this pricing supplement, the accompanying Equity Index Underlying Supplement, prospectus supplement and prospectus.

Example rmv shows that you will receive the return of your principal investment plus a return equal to the Reference Return multiplied by the hypothetical Upside Participation Rate when such Reference Return is positive.

Although the offering of securities relates to the Reference Asset, you should not construe that fact as a recommendation as to the merits of nr7 an investment linked to the Reference Asset or any component security included in the Reference Asset or as to the suitability of fmf investment in the securities.

Subject to the limitations described therein, and based on certain factual representations received from us, in the opinion of our special U. Because other dealers are not likely to make a secondary market for the securities, the price at which you may be able cmv trade your securities is likely to depend on the price, if any, at which HSBC Securities USA Inc.

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As a holder of the securities, you will not receive interest payments. Maximum Aggregate Offering Price. It is designed to serve as a benchmark for low volatility strategies in the U. HSBC and its affiliates play a variety of roles in connection with the issuance of the securities, including acting as calculation agent and hedging our obligations under the securities.

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The securities will not be listed on any securities exchange. 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, Risks Relating to Our Business. If one or more of the entities whose stock is included in, or owned by, fmc Reference Asset, as the case may be, were so treated, certain adverse U.

The securities are not insured by any governmental agency of the United States or any other jurisdiction. As further described in the accompanying prospectus supplement and prospectus, the securities will rank on par with all of the other unsecured fmb unsubordinated debt obligations of HSBC, except such obligations as may be preferred by operation of law.