# EDGAR Filing Document

**Accession Number:** 0000083246
**File Stem:** 0001104659-26-072499
**Filing Date:** 2026-6
**Character Count:** 9398
**Document Hash:** 7c6b8d8056750c19731e1bd4914b0c8c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-26-072499.hdr.sgml**: 20260611

**ACCESSION NUMBER**: 0001104659-26-072499

**CONFORMED SUBMISSION TYPE**: FWP

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20260611

**DATE AS OF CHANGE**: 20260610

**SUBJECT COMPANY**: 

**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:** FWP
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 333-277211
- **FILM NUMBER:** 261081254

**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 BY**: 

**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:** FWP

**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 433

Registration Statement No. 333-277211

AUTOCALLABLE LEVERAGED INDEX RETURN NOTES<sup>®</sup> (AUTOCALLABLE LIRNs<sup>®</sup>)

Autocallable Leveraged Index Return Notes<sup>®</sup> Linked to a Basket of Fifteen Equity Securities

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Issuer** | &nbsp;&nbsp;HSBC USA Inc. ("HSBC") |
| &nbsp;&nbsp;**Principal Amount** | &nbsp;&nbsp;$10.00 per unit |
| &nbsp;&nbsp;**Term** | &nbsp;&nbsp;Approximately 2 years, if not called |
| &nbsp;&nbsp;**Market Measure** | &nbsp;&nbsp;A basket of fifteen equity securities comprised of the common stock of Amazon.com, Inc. (Nasdaq symbol: "AMZN"), the common stock of Arista Networks, Inc. (NYSE symbol: "ANET"), the common stock of Broadcom Inc. (Nasdaq symbol: "AVGO"), the common stock of Constellation Energy Corporation (Nasdaq symbol: "CEG"), the common stock of Coherent Corp. (NYSE symbol: "COHR"), the Class A common stock of CoreWeave, Inc. (Nasdaq symbol: "CRWV"), the common stock of Equinix, Inc. (Nasdaq symbol: "EQIX"), the ordinary shares of Eaton Corporation plc (NYSE symbol: "ETN"), the common stock of GE Vernova Inc. (NYSE symbol: "GEV"), the common stock of Marvell Technology, Inc. (Nasdaq symbol: "MRVL"), the common stock of Microsoft Corporation (Nasdaq symbol: "MSFT"), the common stock of NVIDIA Corporation (Nasdaq symbol: "NVDA"), the Class A common stock of Vertiv Holdings Co (NYSE symbol: "VRT"), the common stock of Vistra Corp. (NYSE symbol: "VST") and the common stock of Advanced Micro Devices, Inc. (Nasdaq symbol: "AMD"). Each Basket Stock will be given an initial weight of 6.67% (except for the common stock of Advanced Micro Devices, Inc., which will be given an initial weight of 6.62%) |
| &nbsp;&nbsp;**Automatic Call** | &nbsp;&nbsp;The notes will be called automatically if the Observation Level of the Market Measure on the Observation Date is equal to or greater than the Call Level |
| &nbsp;&nbsp;**Observation Level** | &nbsp;&nbsp;The value of the Market Measure on the Observation Date |
| &nbsp;&nbsp;**Call Level** | &nbsp;&nbsp;100% of the Starting Value |
| &nbsp;&nbsp;**Observation Date** | &nbsp;&nbsp;Approximately one year after the pricing date |
| &nbsp;&nbsp;**Call Amount (per Unit)** | &nbsp;&nbsp;[$11.80 to $11.90], to be determined on the pricing date |
| &nbsp;&nbsp;**Payout Profile at Maturity** | &nbsp;&nbsp; · 200.00% leveraged upside exposure to increases in the Market Measure<br> · 1-to-1 downside exposure to decreases in the Market Measure, with up to 100% of your investment at risk |
| &nbsp;&nbsp;**Participation Rate** | &nbsp;&nbsp;200.00% |
| &nbsp;&nbsp;**Threshold Value** | &nbsp;&nbsp;100% of the Starting Value |
| &nbsp;&nbsp;**Investment Considerations** | &nbsp;&nbsp;This investment is designed for investors who anticipate that the Market Measure will increase over the term of the notes, are willing to take full downside risk and forgo interim interest payments, and are willing to have their notes called prior to maturity |
| &nbsp;&nbsp;**Preliminary Offering Documents** | &nbsp;&nbsp;**[https://www.sec.gov/Archives/edgar/data/83246/000110465926072430/tm2616470d140_fwp.htm](http://www.sec.gov/Archives/edgar/data/83246/000110465926072430/tm2616470d140_fwp.htm)** |
| &nbsp;&nbsp;**Exchange Listing** | &nbsp;&nbsp;No |

---

***You should read the relevant Preliminary Offering Documents before you invest. Click on the Preliminary Offering Documents hyperlink above or call your Financial Advisor for a hard copy.***

**Risk Factors**

**Please see the Preliminary Offering Documents for a description of certain risks related to this investment, including, but not limited to, the following:**

· If your notes are not automatically called, depending on the
performance of the Market Measure as measured shortly before the maturity date, you may lose up to 100% of the principal amount.

· If the notes are called, your investment return is limited to
the return represented by the Call Premium.

· Changes in the price of one of the Basket Stocks may be offset
by changes in the prices of the other Basket Stocks.

· Payments on the notes, including any repayment of principal,
are subject to the credit risk of HSBC. If HSBC becomes insolvent or is unable to pay its obligations, you may lose your entire investment.

· The estimated initial value of the notes on the pricing date
will be less than their public offering price.

· If you attempt to sell the notes prior to maturity, their market
value may be lower than both the public offering price and the estimated initial value of the notes on the pricing date.

· As a noteholder, you will have no rights of a holder of the
Basket Stocks, and you will not be entitled to receive shares of the Basket Stocks or dividends or other distributions by the issuers
of the Basket Stocks.

· An Underlying Company will not have any obligations relating
to the notes. We, MLPF&S, BofAS and our respective affiliates do not control any Underlying Company, and have not verified any disclosure
made by any Underlying Company.

· The payment on the notes will not be adjusted for all corporate
events that could affect a Basket Stock.

· Some Basket Stocks have limited actual historical information.

· The notes are subject to risks associated with non-U.S. companies.

***Final terms will be set on the pricing date within the given range for the specified Market-Linked Investment. Please see the Preliminary Offering Documents for complete product disclosure, including related risks and tax disclosure.***

![](tm2616470d177_fwpimg01.jpg)

*The graph above and the table below assume that the notes are not called on the Observation Date and reflect the hypothetical return on the notes at maturity, based on the terms contained in the table to the left. The graph and the table have been prepared for purposes of illustration only and do not take into account any tax consequences from investing in the notes.*

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Hypothetical<br> Percentage Change<br> from the Starting Value<br> to the Ending Value** | &nbsp;&nbsp;**Hypothetical<br> Redemption Amount <br> per Unit** | &nbsp;&nbsp;**Hypothetical Total Rate of <br> Return on the Notes** |
| &nbsp;&nbsp;-100.00% | &nbsp;&nbsp;$0.00 | &nbsp;&nbsp;-100.00% |
| &nbsp;&nbsp;-50.00% | &nbsp;&nbsp;$5.00 | &nbsp;&nbsp;-50.00% |
| &nbsp;&nbsp;-20.00% | &nbsp;&nbsp;$8.00 | &nbsp;&nbsp;-20.00% |
| &nbsp;&nbsp;-10.00% | &nbsp;&nbsp;$9.00 | &nbsp;&nbsp;-10.00% |
| &nbsp;&nbsp;-6.00% | &nbsp;&nbsp;$9.40 | &nbsp;&nbsp;-6.00% |
| &nbsp;&nbsp;-3.00% | &nbsp;&nbsp;$9.70 | &nbsp;&nbsp;-3.00% |
| &nbsp;&nbsp; 0.00%<sup>(1)</sup> | &nbsp;&nbsp;$10.00 | &nbsp;&nbsp;0.00% |
| &nbsp;&nbsp;5.00% | &nbsp;&nbsp;$11.00 | &nbsp;&nbsp;10.00% |
| &nbsp;&nbsp;10.00% | &nbsp;&nbsp;$12.00 | &nbsp;&nbsp;20.00% |
| &nbsp;&nbsp;20.00% | &nbsp;&nbsp;$14.00 | &nbsp;&nbsp;40.00% |
| &nbsp;&nbsp;30.00% | &nbsp;&nbsp;$16.00 | &nbsp;&nbsp;60.00% |
| &nbsp;&nbsp;40.00% | &nbsp;&nbsp;$18.00 | &nbsp;&nbsp;80.00% |
| &nbsp;&nbsp;50.00% | &nbsp;&nbsp;$20.00 | &nbsp;&nbsp;100.00% |

---

(1) This hypothetical percentage change corresponds to the Threshold Value.

HSBC has filed a registration statement (including a product supplement, a prospectus supplement, and a prospectus) with the SEC for each of the offerings to which this document relates. Before you invest, you should read those documents, and the other documents that we have filed with the SEC, for more complete information about us and these offerings. You may get these documents without cost by visiting EDGAR on the SEC website at www.sec.gov. Alternatively, HSBC, any agent, or any dealer participating in these offerings will arrange to send you these documents if you so request by calling MLPF&S or BofAS toll-free at 1-800-294-1322<br>