# EDGAR Filing Document

**Accession Number:** 0000083246
**File Stem:** 0001104659-25-078773
**Filing Date:** 2025-8
**Character Count:** 4615
**Document Hash:** 6c7f1140d8d3055f407b766756a51cca
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-25-078773.hdr.sgml**: 20250814

**ACCESSION NUMBER**: 0001104659-25-078773

**CONFORMED SUBMISSION TYPE**: 424B2

**PUBLIC DOCUMENT COUNT**: 3

**FILED AS OF DATE**: 20250814

**DATE AS OF CHANGE**: 20250814

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** HSBC USA INC /MD/
- **CENTRAL INDEX KEY:** 0000083246
- **STANDARD INDUSTRIAL CLASSIFICATION:** NATIONAL COMMERCIAL BANKS [6021]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 132764867
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 424B2
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-277211
- **FILM NUMBER:** 251221076

**BUSINESS ADDRESS:**
- **STREET 1:** 66 HUDSON BOULEVARD
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10001
- **BUSINESS PHONE:** 212-525-5000

**MAIL ADDRESS:**
- **STREET 1:** 66 HUDSON BOULEVARD
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10001

**Filed Pursuant to Rule 424(b)(2)**

**Registration No. 333-277211**

**Supplement dated August 13, 2025**

**to Pricing Supplement dated July 17, 2025**

**Equity Index Underlying Supplement dated February 21, 2024, Prospectus Supplement dated February 21, 2024 and**

**Prospectus dated February 21, 2024**

![](tm2522797d84_424b2img001.jpg)

**HSBC USA Inc.**

**Capped In-GEARS**

**Linked to the Dow Jones Industrial Average<sup>®</sup> due April 16, 2031**

**CUSIP: 40445V373**

**(the "securities")**

This document (the "supplement") supplements the offering documents referenced above, including in connection with any secondary market transactions in the securities by HSBC Securities (USA) Inc. and its affiliates. Certain terms used but not defined in this supplement have the meanings set forth in those offering documents.

In the pricing supplement, dated July 17, 2025 and filed with the Securities and Exchange Commission (the "SEC") on July 21, 2025(the "Final Pricing Supplement"), with respect to the Underlying, its Initial Level was defined as the arithmetic average of its Official Closing Levels on each scheduled Trading Day from and including July 16, 2025 to and including August 13, 2025, excluding any scheduled Trading Day on which a Market Disruption Event occurs.

The arithmetic average of the Official Closing Levels on each scheduled Trading Day from and including July 16, 2025 to and including August 13, 2025 with respect to the Underlying was 44,387.77.

**Therefore, the Initial Level for the securities is 44,387.77.**

**Documentation**

You should read this supplement, together with the documents listed below, which together contain the terms of the securities and supersede all prior or contemporaneous oral statements as well as any other written materials. You should carefully consider, among other things, the matters set forth in "Key Risks" beginning on page PS-7 of the Pricing Supplement and "Risk Factors" beginning on page S-1 in the prospectus supplement and page S-1 of the Equity Index Underlying Supplement, as the securities involve risks not associated with conventional debt securities. We urge you to consult your investment, legal, tax, accounting, and other advisors before you invest in the securities.

You may access these documents on the SEC website at www.sec.gov as follows (or if such address has changed, by reviewing our filings for the relevant date on the SEC website):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Pricing Supplement dated July 17, 2025:

[https://www.sec.gov/Archives/edgar/data/83246/000110465925069220/tm2519575d164_424b2.htm](https://www.sec.gov/Archives/edgar/data/83246/000110465925069220/tm2519575d164_424b2.htm)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The Equity Index Underlying Supplement dated February 21, 2024:<br> [https://www.sec.gov/Archives/edgar/data/83246/000110465924025885/tm244959d3_424b2.htm](https://www.sec.gov/Archives/edgar/data/83246/000110465924025885/tm244959d3_424b2.htm)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The prospectus supplement dated February 21, 2024:<br> [https://www.sec.gov/Archives/edgar/data/83246/000110465924025878/tm244959d1_424b2.htm](https://www.sec.gov/Archives/edgar/data/83246/000110465924025878/tm244959d1_424b2.htm)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· The prospectus dated February 21, 2024:<br> [https://www.sec.gov/Archives/edgar/data/83246/000110465924025864/tm244959d13_424b3.htm](https://www.sec.gov/Archives/edgar/data/83246/000110465924025864/tm244959d13_424b3.htm)

### Attached PDF Documents

**Attachment 1:** `tm2522797-84_424b2.pdf`

_No text found in this document._