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HSBC intends to price 18-month AMPS tied to S&P 500 index
By Toni Weeks
San Diego, Aug. 31 - HSBC USA Inc. plans to price 0% Accelerated Market Participation Securities due March 27, 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 three times any increase in the index, subject to a cap of 21% to 25%. The exact cap will be set at pricing.
Investors will be fully exposed to losses.
The notes (Cusip: 4042K1MM2) are expected to price Sept. 22 and settle Sept. 27.
HSBC Securities (USA) Inc. is the agent.
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