HSBC plans to price 18-month buffered AMPS linked to gold

By Toni Weeks

San Diego, Nov. 4 - HSBC USA Inc. plans to price 0% buffered Accelerated Market Participation Securities due May 2013 linked to the spot price of gold, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par plus 1.5 times any gain in the gold price, subject to a cap of 17% to 22%. The exact cap will be set at pricing.

Investors will receive par if the price of gold falls by up to 10% and will be exposed to declines beyond 10%.

The notes (Cusip: 4042K1SM6) are expected to price and settle in November.

HSBC Securities (USA) Inc. is the agent.

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