HSBC USA INC /MD/ Files FWP for Securities Offering

TL;DR

**HSBC USA INC /MD/ just filed an FWP, signaling a new securities offering is being marketed.**

AI Summary

HSBC USA INC /MD/ filed a Free Writing Prospectus (FWP) on March 24, 2026, under SEC Accession No. 0001104659-26-033821. This filing, which includes a 187,524-byte HTML document and a 685,343-byte PDF, is a marketing communication related to a securities offering. For investors, this matters because it signals that HSBC USA INC /MD/ is actively engaging in capital-raising activities, which could impact the company's financial structure and future growth prospects.

Why It Matters

This FWP indicates HSBC USA INC /MD/ is marketing new securities, which could dilute existing shares or provide capital for strategic initiatives.

Risk Assessment

Risk Level: low — A Free Writing Prospectus itself is a marketing document and doesn't inherently carry high risk, but the underlying securities offering could.

Analyst Insight

An investor should review the full FWP document and any associated registration statements to understand the terms of the potential securities offering and its implications for existing shareholders.

Key Numbers

• 187524 — Size of HTML FWP document (Indicates the length and detail of the primary FWP document.)
• 685343 — Size of PDF FWP document (Provides an alternative format and size for the FWP document.)
• 2026-03-24 — Filing Date (The date the FWP was officially submitted to the SEC.)
• 0001104659-26-033821 — SEC Accession No. (Unique identifier for this specific filing.)

Key Players & Entities

• HSBC USA INC /MD/ (company) — the filer and subject of the FWP
• 0000083246 (company) — CIK of HSBC USA INC /MD/
• March 24, 2026 (date) — filing date of the FWP
• 66 HUDSON BOULEVARD NEW YORK NY 10001 (company) — business and mailing address of HSBC USA INC /MD/

Forward-Looking Statements

• HSBC USA INC /MD/ will proceed with a securities offering in the near future. (HSBC USA INC /MD/) — high confidence, target: 2026-06-24

FAQ

Key Financial Figures

• $930.00 — he Trade Date is expected to be between $930.00 and $980.00 per Note, which will be les
• $980.00 — e is expected to be between $930.00 and $980.00 per Note, which will be less than the p
• $1,000 — unt (1) Proceeds to Issuer Per Note $1,000 Total (1) HSBC USA Inc. or one of o

Filing Documents

• tm267724d294_fwp.htm (FWP) — 183KB
• tm267724d294_fwp.pdf (FWP) — 669KB
• tm267724d294_fwpimg001.jpg (GRAPHIC) — 116KB
• tm267724d294_fwpimg002.jpg (GRAPHIC) — 9KB
• tm267724d294_fwpimg003.jpg (GRAPHIC) — 97KB
• tm267724d294_fwpimg004.jpg (GRAPHIC) — 65KB
• tm267724d294_fwpimg005.jpg (GRAPHIC) — 25KB
• tm267724d294_fwpimg006.jpg (GRAPHIC) — 29KB
• tm267724d294_fwpimg007.jpg (GRAPHIC) — 26KB
• tm267724d294_fwpimg008.jpg (GRAPHIC) — 25KB
• tm267724d294_fwpimg009.jpg (GRAPHIC) — 26KB
• tm267724d294_fwpimg010.jpg (GRAPHIC) — 24KB
• tm267724d294_fwpimg011.jpg (GRAPHIC) — 59KB
• 0001104659-26-033821.txt ( ) — 1799KB

Underwriting

Underwriting Discount (1) Proceeds to Issuer Per Note $1,000 Total (1) HSBC USA Inc. or one of our affiliates may pay varying underwriting discounts of up to 0.55% per $1,000 Principal Amount in connection with the distribution of the Notes to other registered broker-dealers. See “Supplemental Plan of Distribution (Conflicts of Interest)” on page FWP-16 of this document. The Notes: Are Not FDIC Insured Are Not Bank Guaranteed May Lose Value Indicative Terms (1) Principal Amount $1,000 per Note Reference Asset An equally weighted basket consisting of the following: S&P 500 ® Index (Ticker: SPX), the Russell 2000 ® Index (Ticker: RTY) and the Nasdaq-100 Index ® (Ticker: NDX) (each, a “Reference Asset Component” and together, the “Reference Asset Components”) Component Weights 33.33% for SPX, 33.33% for RTY, and 33.34% for NDX Upside Participation Rate 100% (1.00x) Maximum Cap At least 16.75% (to be determined on the Trade Date). Buffer Percentage -15.00% Reference Return The Reference Return will equal the sum of the following products: each Reference Asset Component Return (1) multiplied by its respective Component Weight Reference Asset Component Return Final Value – Initial Value Initial Value Payment at Maturity per Note If the 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 Percentage: $1,000 (zero return). If the Reference Return is less than the Buffer Percentage: $1,000 + [$1,000 × (Reference Return + 15.00%)]. For example, if the Reference Return is -40.00%, you will suffer a 25.00% loss and receive 75.00% of the Principal Amount, subject to the credit risk of HSBC USA, Inc. If the Reference Return is less

RISK FACTORS

RISK FACTORS We urge you to read the section “Risk Factors” beginning on page S-1 of the accompanying prospectus supplement and page S-1 of the accompanying Equity Index Underlying Supplement, as applicable. 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 document and the accompanying prospectus, prospectus supplement and Equity Index Underlying Supplement. In addition to the risks discussed below, you should review “Risk Factors” in the accompanying prospectus supplement and Equity Index Underlying Supplement including the explanation of risks relating to the Notes described in the following sections: “—Risks Relating to All Note Issuances” in the prospectus supplement; and “—General Risks Related to Indices” in the Equity Index Underlying Supplement. You will be subject to significant risks not associated with conventional fixed-rate or floating-rate debt securities. Risks Relating to the Structure or Features of the Notes Your investment in the Notes may result in a loss. You will be exposed to the decline in the Final Value from the Initial Value beyond the Buffer Percentage of -15.00%. Accordingly, if the Reference Return is less than the Buffer Percentage of -15.00%, your Payment at Maturity will be less than the Principal Amount of your Notes. You will lose some or a significant portion (up to 85.00%) of your investment at maturity if the Reference Return is less than the Buffer Percentage. The appreciation on the Notes is limited by the Maximum Cap. You will not participate in any appreciation in the level of the Reference Asset (as multiplied by the Upside Participation Rate) beyond the Maximum Cap. You will not receive a return on the Notes greater than the Ma

View Full Filing

View this FWP filing on SEC EDGAR