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HSBC increases cap for two-year buffered AMPS linked to Russell
By Angela McDaniels
Tacoma, Wash., May 3 – HSBC USA Inc. increased the maximum return for its upcoming 0% buffered Accelerated Market Participation Securities due May 31, 2018 linked to the Russell 2000 index to at least 23% from at least 21%, according to an FWP filing with the Securities and Exchange Commission.
The exact maximum return will be set at pricing.
If the index return is positive, the payout at maturity will be par plus double the index return, subject to the maximum return. Investors will receive par if the index declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.
HSBC Securities (USA) Inc. is the agent.
The notes are expected to price May 25.
The Cusip number is 40433UMC7.
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