By Angela McDaniels
Tacoma, Wash., Sept. 15 – UBS AG, London Branch priced 15 million European-style index call warrants expiring March 30, 2016 linked to the Hang Seng China Enterprises index, according to a term sheet.
The issue price is S$0.264 per warrant, or S$3.96 million in total.
If the final index level is greater than 10,800 and the cash settlement amount is positive, the warrants will be automatically exercised on the expiration date, and investors will receive the quotient of (a) (i) HK$1 times (ii) the final index level minus 10,800 (iii) times the conversion ratio divided by (b) the rate of exchange on the expiration date between the Hong Kong dollar and the Singapore dollar. The conversion ratio is 0.00166, i.e., 600 warrants per index unit.
If the final index level is less than or equal to 10,800 and the cash settlement amount is zero or negative, the warrants will not be exercised.
The gearing is 4.88 times, and the premium is 20.87%.
| Issuer: | UBS AG, London Branch
|
| Issue: | European-style index call warrants
|
| Underlying index: | Hang Seng China Enterprises
|
| Amount: | S$3.96 million
|
| Expiration date: | March 30, 2016
|
| Price: | S$0.264
|
| Warrants: | 15 million
|
| Payout: | If final index level is greater than 10,800 and cash settlement amount is positive, quotient of (a) (i) HK$1 times (ii) final index level minus 10,800 (iii) times 0.00166 divided by (b) rate of exchange on expiration date between Hong Kong dollar and Singapore dollar; if final index level is less than or equal to 10,800, nothing
|
| Initial index level: | 9,654.82
|
| Pricing date: | Sept. 15
|
| Settlement date: | Sept. 22
|
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