HSBC plans to sell 15-month buffered AMPS tied to Russell 2000 index

By Susanna Moon

Chicago, June 1 - HSBC USA Inc. plans to price 0% buffered Accelerated Market Participation Securities due Sept. 28, 2011 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 double any index gain, up to a maximum return of 16.5% to 21.5%. 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 will price on June 23 and settle on June 28.

HSBC Securities (USA) Inc. is the agent.

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