HSBC plans four-year buffered AMPS with cap tied to iShares MSCI EM

By Marisa Wong

Madison, Wis., May 24 - HSBC USA Inc. plans to price buffered Accelerated Market Participation Securities due June 2, 2017 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 111% of any fund gain, subject to a maximum return of 55% to 65%. The exact cap will be set at pricing.

Investors will receive par if the fund falls by up to 25% and will lose 1.3333% for every 1% decline beyond 25%.

HSBC Securities (USA) Inc. is the agent.

The notes (Cusip: 40432XFR7) will price May 30 and settle June 4.

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