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HSBC plans to price 18-month buffered AMPS linked to S&P 500 index
By Toni Weeks
San Diego, Jan. 3 - HSBC USA Inc. plans to price 0% buffered Accelerated Market Participation Securities due July 29, 2013 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
The payout at maturity will be par plus two times any increase in the index, subject to a cap of 15% to 19%. 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 declines beyond 10%.
The notes (Cusip: 4042K1UP6) are expected to price Jan. 24 and settle Jan. 27.
HSBC Securities (USA) Inc. is the agent.
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