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

By Marisa Wong

Milwaukee, May 4 - HSBC USA Inc. plans to price 0% buffered Accelerated Market Participation Securities due Nov. 28, 2011 linked to the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par plus double any index gain, subject to a maximum return that is expected to be 13.5% to 18.5%. The exact cap will be set at pricing.

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

The notes are expected to price on May 21 and settle on May 26.

HSBC Securities (USA) Inc. is the agent.

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