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HSBC plans to sell 15-month buffered AMPS linked to Russell 2000 index
By Susanna Moon
Chicago, May 4 - HSBC USA Inc. plans to price 0% buffered Accelerated Market Participation Securities due Aug. 26, 2011 based on the performance of the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any index gain, up to a maximum return of 14% to 19%. The exact cap will be set at pricing.
Investors will receive par if the index falls by up to 10% and will be exposed to any decline beyond the buffer.
The notes will price on May 21 and settle on May 26.
HSBC Securities (USA) Inc. is the agent.
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