HSBC plans to price 18-month buffered AMPS linked to Russell 2000

By Jennifer Chiou

New York, May 3 - HSBC USA Inc. plans to price 0% buffered Accelerated Market Participation Securities due Oct. 25, 2012 linked to the Russell 2000 index, according to an FWP with the Securities and Exchange Commission.

The payout at maturity will be par plus two times any index gain, subject to a cap of 15.5%.

Investors will receive par if the index falls by up to 10% and will be exposed to declines beyond 10%.

The notes (Cusip: 4042K1HG1) are expected to price and settle in May.

HSBC Securities (USA) Inc. is the agent.

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