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HSBC plans to price 18-month buffered AMPS linked to S&P 500 index
By Angela McDaniels
Tacoma, Wash., June 29 - HSBC USA Inc. plans to price 0% buffered Accelerated Market Participation Securities due Jan. 30, 2012 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus double any index gain, subject to a maximum return of 12% to 16% that will be set at pricing. Investors will receive par if the index falls by 10% or less and will be exposed to any decline beyond 10%.
The notes are expected to price July 23 and settle July 28.
HSBC Securities (USA) Inc. is the agent.
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