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HSBC increases cap for buffered AMPS linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Oct. 3 - HSBC USA Inc. increased the maximum return for its upcoming 0% buffered Accelerated Market Participation Securities due April 29, 2013 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 that is expected to be 14% to 19% and will be set at pricing. Previously, the cap was expected to be 12% to 18%.
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: 4042K1PF4) are expected to price Oct. 24 and settle Oct. 27.
HSBC Securities (USA) Inc. is the agent.
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