Published on 2/26/2009 in the Prospect News Structured Products Daily.
New Issue: UBS prices $7.35 million return optimization securities linked to S&P 500
By E. Janene Geiss
Philadelphia, Feb. 26 - UBS AG priced $7.35 million of 0% return optimization securities with partial protection due Aug. 31, 2010 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 double any positive index return, subject to a maximum return of 35.55%. Investors will receive par if the index declines by 10% or less and will be fully exposed to any index decline beyond 10%.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
Issuer: | UBS AG
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Issue: | Return optimization securities with partial protection
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Underlying index: | S&P 500
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Amount: | $7,353,910
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Maturity: | Aug. 31, 2010
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Coupon: | 0%
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Price: | Par of $10
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Payout at maturity: | Par plus double any positive index return, capped at 35.55%; par if the index declines by 10% or less and full exposure to any index decline beyond 10%
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Initial index level: | 773.14
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Pricing date: | Feb. 24
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Settlement date: | Feb. 27
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Underwriters: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 1.75%
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