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UBS plans contingent return optimization securities tied to Russell
By Toni Weeks
San Diego, Aug. 1 - UBS AG, London Branch plans to price 0% contingent return optimization securities due Aug. 29, 2014 linked to the Russell 2000 index, according to an FWP filing with the Securities and Exchange Commission.
If the final index level is greater than or equal to the trigger level, 70% of the initial index level, the payout at maturity will be par of $10 plus the greater of the 10% contingent return and the index return. The payout will be subject to a maximum return of 25.5% to 31.5% that will be set at pricing.
If the final index level is less than the trigger level, investors will be fully exposed to the decline.
The notes (Cusip: 90268U838) are expected to price Aug. 28 and settle Aug. 31.
UBS Financial Services Inc. and UBS Investment Bank will be the agents.
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