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HSBC to price buffered AMPS due 2017 linked to S&P 500 index
By Jennifer Chiou
New York, Feb. 4 - HSBC USA Inc. plans to price 0% buffered Accelerated Market Participation Securities due Feb. 28, 2017 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 double any gain in the index, up to a maximum return of 22% to 26%. The exact cap will be set at pricing.
Investors will receive par if the index falls by up to 10% and will lose 1% for each 1% decline beyond 10%.
The notes (Cusip: 40432XTP6) are expected to price on Feb. 21 and settle on Feb. 28.
HSBC Securities (USA) Inc. is the agent.
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