Published on 1/26/2009 in the Prospect News Structured Products Daily.
New Issue: UBS prices $4.26 million protected absolute return barrier notes linked to S&P 500
By Susanna Moon
Chicago, Jan. 26 - UBS AG priced $4.26 million of zero-coupon principal protection absolute return barrier notes due Jan. 27, 2011 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
If the index never closes above the upper barrier or below the lower barrier, the payout at maturity will be par plus the absolute value of the index return.
The upper barrier is 142.8% of the initial index level, and the lower barrier is 57.2% of the initial level.
Investors will receive at least par.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
Issuer: | UBS AG
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Issue: | Principal protection absolute return barrier notes
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Underlying index: | S&P 500
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Amount: | $4,256,000
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Maturity: | Jan. 27, 2011
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If index stays within barrier range, par plus absolute value of index return; floor of par
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Initial level: | 827.50
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Upper barrier: | 1,181.67, or 142.8% of initial level
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Lower barrier: | 473.33, or 57.2% of initial level
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Pricing date: | Jan. 22
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Settlement date: | Jan. 28
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Underwriter: | UBS Financial Services Inc., UBS Investment Bank
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Fees: | 2%
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