HSBC plans 15-month buffered AMPS tied to iShares FTSE/Xinhua China 25

By Angela McDaniels

Tacoma, Wash., Jan. 31 - HSBC USA Inc. plans to price 0% buffered Accelerated Market Participation Securities due May 23, 2012 linked to the iShares FTSE/Xinhua China 25 index fund, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par plus double any increase in the exchange-traded fund's share price, subject to a maximum return of 12% to 17% that will be set at pricing. Investors will receive par if the share price declines by 10% or less and will lose 1% for every 1% that it declines beyond 10%.

The notes (Cusip 4042K1DB6) will price Feb. 18 and settle Feb. 24.

HSBC Securities (USA) Inc. is the agent.

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