HSBC plans 18-month AMPS with 20.5% cap tied to iShares MSCI EM fund

By Susanna Moon

Chicago, May 20 - HSBC USA Inc. plans to price 0% Accelerated Market Participation Securities due Nov. 30, 2012 linked to the iShares MSCI Emerging Markets index fund, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par plus triple any gain in the fund, up to a cap of 20.5%.

Investors will be exposed to any losses.

HSBC Securities (USA) Inc. is the agent.

The notes will price on May 25 and settle on May 31.

The Cusip is 4042K1HT3.

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