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nt to the terms of a distribution agreement, HSBC Securities (USA) Inc., an affiliate of HSBC, will purchase the Notes from HSBC for distribution to J.P. Morgan Securities LLC and certain of its miistered broker-dealer affiliates, acting as placement agent, at the price indicated on the cover of this pricing supplement. Th
scheduled trading day, then that firth scheduled trading day will nevertheless be the Final Valuation Date and the Calculation Agent will detennine the Spot Rate of the Reference Currency using the formula for and method of determining such Spot Rate which applied just prior to the market disruption event (or in good faith and in a co
nt to the terms of a distribution agreement, HSBC Securities (USA) Inc., an affiliate of HSBC, will purchase the Notes from HSBC for distribution to J.P. Morgan Securities LLC and certain of its miistered broker-dealer affiliates, acting as placement agent, at the price indicated on the cover of this pricing supplement. Th
scheduled trading day, then that firth scheduled trading day will nevertheless be the Final Valuation Date and the Calculation Agent will detennine the Spot Rate of the Reference Currency using the formula for and method of determining such Spot Rate which applied just prior to the market disruption event (or in good faith and in a co
nt to the terms of a distribution agreement, HSBC Securities (USA) Inc., an affiliate of HSBC, will purchase the Notes from HSBC for distribution to J.P. Morgan Securities LLC and certain of its miistered broker-dealer affiliates, acting as placement agent, at the price indicated on the cover of this pricing supplement. Th
scheduled trading day, then that firth scheduled trading day will nevertheless be the Final Valuation Date and the Calculation Agent will detennine the Spot Rate of the Reference Currency using the formula for and method of determining such Spot Rate which applied just prior to the market disruption event (or in good faith and in a co
distribution to the placement agent. See "Supplemental Plan of Distribution (Conflicts of Interest)" on the last page of this pricing supplement. J.P. Morgan Securities LLC and certain of its registered broker-dealer EFTA01465553 affiliates are purchasing the Notes for resale. Price to Public Per Note Total $1,000
ased on the Spot Rate of the Reference Currency on the Final Valuation Date, subject to postponement and certain market disruption events. Even if the Spot Rate of the Reference Currency appreciates prior to the Final Valuation Date but then drops on the Final Valuation Date to a level that is below the Barrier Level, the Payment at
Entities connected to both J.P. Morgan Securities LLC and the Spot Rate of the Reference Currency

United States
LOCATIONthe Final Spot Rate
ORGANIZATIONthe State of New York
LOCATIONthe City of New York
LOCATIONMorrison & Foerster LLP
ORGANIZATION
Angela Merkel
PERSONI ISBC Securities (USA) Inc.
ORGANIZATION