Published on 10/30/2007 in the Prospect News Structured Products Daily.
New Issue: UBS prices $3.7 million performance securities linked to S&P 500
By Susanna Moon
Chicago, Oct. 30 - UBS AG priced a $3.7 million issue of 0% performance securities with contingent protection due Oct. 31, 2012 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
The payout at maturity will be par of $10 plus 111.25% of any index gain. If the index finishes below the initial index level but did not fall below 50% of the initial index level during the life of the notes, investors will receive par.
If the index falls below 50% of the initial index level during the life of the notes, investors will share in any losses.
UBS Investment Bank and UBS Financial Services Inc. are the underwriters.
Issuer: | UBS AG
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Issue: | Performance securities with contingent protection
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Underlying index: | S&P 500
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Amount: | $3,717,760
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Maturity: | Oct. 31, 2012
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus 111.25% of any index gain; par if index falls less than 50% during the life of the notes and finishes at or below the initial index level; full exposure to loss if index drops more than 50% during life of notes
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Initial index level: | 1,535.28
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Trigger level: | 767.64, or 50% of the initial level
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Pricing date: | Oct. 26
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Settlement date: | Oct. 31
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Underwriters: | UBS Investment Bank, UBS Financial Services Inc.
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Fees: | 3.5%
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