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UBS plans contingent return optimization securities tied to S&P 500
By Toni Weeks
San Diego, July 3 - UBS AG, London Branch plans to price 0% contingent return optimization securities due July 31, 2014 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
If the final index level is at least 75% of the initial level, the payout at maturity will be par plus the greater of the 6% contingent return and the index return, subject to a maximum return of 26% to 32%. The exact maximum return will be determined at pricing.
If the final index level is less than 75% of the initial level, investors will be fully exposed to the decline.
The notes (Cusip: 90268U671) are expected to price July 26 and settle July 31.
UBS Financial Services Inc. and UBS Investment Bank are the agents.
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