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HSBC USA plans 15-month buffered AMPS linked to FTSE/Xinhua China 25
By Toni Weeks
San Diego, March 2 - HSBC USA Inc. plans to price 0% buffered Accelerated Market Participation Securities due June 28, 2012 linked to the iShares FTSE/Xinhua China 25 index fund, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus two times any increase in the fund, subject to a cap of 12% to 17%. The exact cap will be set at pricing.
Investors will receive par if the fund falls by up to 10% and will be exposed to declines beyond 10%.
The notes (Cusip: 4042K1EL3) are expected to price March 24 and settle March 29.
HSBC Securities (USA) Inc. is the agent.
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