HSBC plans to price 18-month AMPS linked to S&P 500 index

By Toni Weeks

San Diego, Aug. 31 - HSBC USA Inc. plans to price 0% Accelerated Market Participation Securities due March 27, 2013 linked to the S&P 500 index, according to an FWP with the Securities and Exchange Commission.

The payout at maturity will be par plus three times any increase in the index, subject to a cap of 15% to 21%. The exact cap will be set at pricing.

Investors will be fully exposed to losses.

The notes (Cusip: 4042K1MN0) are expected to price on Sept. 22 and settle Sept. 27.

HSBC Securities (USA) Inc. is the agent.

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