HSBC plans 15-month AMPS based on Russell 2000 with 20%-25% cap

By Susanna Moon

Chicago, Jan. 3 - HSBC USA Inc. plans to price 0% Accelerated Market Participation Securities due April 27, 2012 based on the performance of the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par plus triple any gain in the index, up to a maximum return of 20% to 25%. The exact cap will be set at pricing.

Investors will be exposed to any losses.

The notes (Cusip 4042K1BS1) will price on Jan. 24 and settle on Jan. 27.

HSBC Securities (USA) Inc. is the agent.

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