From: Richard Kahn <[email protected]>

From: Richard Kahn <[email protected]> To: "jeffrey E." <jeevacationggmail.com> Subject: Fwd: New Issue: HSBC 5y Fixed to Floating Rate Note on 3mL Date: Mon, 02 May 2016 20:41:38 +0000 Attachments: HSBC_Prospectus.pdf 3 month libor is currently 0.64 please advise thank you Richard Kahn HBRK Associates Inc. 575 Lexington Avenue 4th Floor New York, NY 10022 tel 212-971-1306 fax 646-350-0954 cell 917-414-7584 Begin forwarded message: From: "Atlas, Andrew S" <[email protected]> Subject: New Issue: HSBC 5y Fixed to Floating Rate Note on 3mL Date: May 2, 2016 at 11:41:10 AM EDT To: "Richard Kahn ([email protected])" <[email protected]> Hi Rich, Hope you had a nice weekend. Wanted to show STC and GA a Morgan Stanley New Issue HSBC Syr Fixed-to-Floating Rate Note that's closing on this Friday May 6th. Details: Product Type: Fixed-to-Floating Rate Notes Linked 3-month LIBOR (3mL) Issuer: HSBC USA Inc. S&P Issuer Credit Rating: A+ Maturity: OS/11/2021 Call feature: None, i.e. the securities are non-callable Payment at Maturity: Par ($1,000 per note) + any accrued and unpaid interest EFTA00650080 Interest Payment Schedule: Quarterly interest payments; The 11th calendar day of each February, May, August and November during the term of the notes, commencing on August 11, 2016, up to and including the Maturity Date. Interest Formula: Years 1 and 2: 2.25% fixed per annum Years 3 through Maturity: 3mL + 1.05% per annum, subject to a 4.0% per annum cap I've attached the prospectus. Let me know if you have any questions. Best, Andrew Andrew S. Atlas First Vice President Equity Sales/Middle Markets Group Financial Advisor Morgan Stanley Wealth Management 1290 Avenue of the Americas, 12th Floor I New York, NY 10104 Tel/Direct: +1 212 705 4521 I Fax: +1 212 705 4592 [email protected] NMLS ID tt 1326736 Important Notice to Recipients: Please do not use e-mail to request, authorize or effect the purchase or sale of any security or commodity. Unfortunately, we cannot execute such instructions provided in e-mail. Thank you. The sender of this e-mail is an employee of Morgan Stanley Smith Barney LLC ("Morgan Stanley"). If you have received this communication in error, please destroy all electronic and paper copies and notify the sender immediately. Erroneous transmission is not intended to waive confidentiality or privilege. Morgan Stanley reserves the right, to the extent permitted under applicable law. to monitor electronic communications. This message is subject to terms available at the following link: http://www.morganstanley.com/disclaimers/mssbemail.html. If you cannot access this link, please notify us by reply message and we will send the contents to you. By messaging with Morgan Stanley you consent to the foregoing. EFTA00650081