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HSBC plans to offer 15-month AMPS based on S&P 500 with 15%-19% cap
By Susanna Moon
Chicago, Jan. 3 - HSBC USA Inc. plans to price 0% Accelerated Market Participation Securities due April 27, 2012 based on the performance of the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus triple any gain in the index, up to a maximum return of 15% to 19%. The exact cap will be set at pricing.
Investors will be exposed to any losses.
The notes (Cusip 4042K1BR3) will price on Jan. 24 and settle on Jan. 27.
HSBC Securities (USA) Inc. is the agent.
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