HSBC plans buffered AMPS linked to iShares MSCI Emerging Markets

By Jennifer Chiou

New York, April 2 - HSBC USA Inc. plans to price 0% buffered Accelerated Market Participation Securities due April 28, 2016 linked to the iShares MSCI Emerging Markets exchange-traded fund, according to an FWP with the Securities and Exchange Commission.

The payout at maturity will be par plus double any ETF gain, subject to a maximum return of at least 13.5% that will be set at pricing.

The payout will be par if the ETF declines by 10% or less. Otherwise, investors will lose 1% for every 1% that the ETF declines beyond 10%.

The notes (Cusip: 40432XXR7) are expected to price on April 23 and settle on April 28.

HSBC Securities (USA) Inc. is the agent.

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