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HSBC USA plans to price 15-month buffered AMPS linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Jan. 31 - HSBC USA Inc. plans to price 0% buffered Accelerated Market Participation Securities due May 23, 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 increase in the index, subject to a maximum return of 9% to 13% that will be set at pricing. Investors will receive par if the index declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.
The notes (Cusip 4042K1CZ4) will price Feb. 18 and settle Feb. 24.
HSBC Securities (USA) Inc. is the agent.
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