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HSBC plans to price two-year buffered AMPS linked to S&P 500 index
By Jennifer Chiou
New York, July 6 - HSBC USA Inc. plans to price 0% buffered Accelerated Market Participation Securities due July 25, 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 two times any increase in the index, subject to a cap of 14% to 18%. 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 CDs (Cusip: 4042K1KR3) will price on July 21 and settle on July 26.
HSBC Securities (USA) Inc. is the agent.
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