Filed Pursuant to Rule 433 Registration No. 333-202524 Agit 26. 2016 FREE WRITING PROSPECTUS go Prospectus dated March 5. 2015 and Prospectus Supplement dated March 5. 2015) ,DF HSBC USA Inc. Fixed to Floating Rate Notes ► Five year Fixed to Floating Rate Notes due May 11. 2021 Quarterly coupon payments at a fixed rate of 2.25% per annum for the first and second years of the rm of the Notes and a per annum floating rate equal to 3-Month LIBOR plus a Spread of 1.05% for - the remainder of the term subject to a Cap of 4.00% per annum • payments on the NoaSte subject to Ore nr rkSl3C Inc. tgif The Fixed to Floating Rate Notes (each a -Note- and collectively the 'Notes') offered hereunder will not be listed on any U.S. securities exchange or automated quotation system. Neither the U.S. Securities and Exchange Commission (the 'SEC') nor any state securities commission has approved or disapproved of the Notes or passed upon the accuracy or the adequacy of this document, the accompanying prospectus or prospectus supplement. My representation to the contrary is a criminal offense. We have appointed HSBC Securities (USA) Inc., an affiliate of ours, as the agent for the sale of the Notes. HSBC Securities (USA) Inc. will purchase the Notes from us for distribution to other registered broker-dealers or will offer the Notes directly to investors. HSBC Securities (USA) Inc. or another of its affiliates or agents may use the pricing supplement to which this free writing prospectus relates in market-making transactions in any Notes after their initial sale. Unless we or our agent informs you otherwise in the confirmation of sale, the pricing supplement to which this free writing prospectus relates is being used in a market-making transaction. See 'Supplemental Plan of Distribution (Conflicts of Interest)' on page FWP-10 of this free writing prospectus. Investment in the Notes Involves certain risks. You should refer to "Risk Factors" beginning on pago F