HSBC plans 18-month buffered AMPS linked to iShares MSCI Brazil fund

By Jennifer Chiou

New York, May 31 - HSBC USA Inc. plans to price 0% buffered Accelerated Market Participation Securities due Dec. 28, 2012 linked to the iShares MSCI Brazil index fund, according to an FWP with the Securities and Exchange Commission.

The payout at maturity will be par plus double any gain in the fund, up to a cap of 16% to 21%. The exact cap will be set at pricing.

Investors will receive par if the shares fall by up to 10% and will be exposed to any decline beyond 10%.

The notes (Cusip: 4042K1JL8) will price on June 22 and settle on June 27.

HSBC Securities (USA) Inc. is the agent.

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