HSBC to price 18-month buffered AMPS linked to iShares MSCI Brazil ETF

By Angela McDaniels

Tacoma, Wash., April 4 - HSBC USA Inc. plans to price 0% buffered Accelerated Market Participation Securities due Oct. 25, 2012 linked to the iShares MSCI Brazil index fund, according to an FWP filing with the Securities and Exchange Commission.

The payout at maturity will be par plus two times any gain in the fund, subject to a maximum return of 16% to 21% that will be set at pricing. Investors will receive par if the fund falls by 10% or less and will lose 1% for every 1% that it declines beyond 10%.

The notes (Cusip: 4042K1FX6) are expected to price April 20 and settle April 26.

HSBC Securities (USA) Inc. is the agent.

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