HSBC plans to sell 18-month buffered AMPS linked to S&P 500 index

By Susanna Moon

Chicago, July 28 - HSBC USA Inc. plans to price 0% buffered Accelerated Market Participation Securities based on the performance of the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.

The notes will mature between Feb. 3, 2012 and Feb. 10, 2012.

The payout at maturity will be par plus 1.1 times any index gain, up to a maximum return of 16% to 19%. The exact cap will be set at pricing.

Investors will receive par if the index falls by up to 10% and will lose 1% for each 1% decline beyond 10%.

The notes (Cusip 4042K03C7) are expected to price between July 28 and Aug. 4 and settle between Aug. 4 and Aug. 11.

HSBC Securities (USA) Inc. is the agent.

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