HSBC plans to sell 15-month buffered AMPS linked to S&P 500 index

By Susanna Moon

Chicago, June 29 - HSBC USA Inc. plans to price 0% buffered Accelerated Market Participation Securities due Oct. 28, 2011 based on the performance of the S&P 500 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 12% to 16%. 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 July 23 and settle on July 28.

HSBC Securities (USA) Inc. is the agent.

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