Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers S > Headlines for S&P 500 index > News item |
UBS to price capped index knock-out notes linked to S&P 500
By Angela McDaniels
Tacoma, Wash., Aug. 14 - UBS AG, London Branch plans to price 0% capped index knock-out notes due Sept. 5, 2013 linked to the S&P 500 index, according to an FWP filing with the Securities and Exchange Commission.
A knock-out event will occur if the index's closing level is less than the initial level by more than 20% on any day during the life of the notes.
If a knock-out event does not occur, the payout at maturity will be par plus the index return, subject to a minimum return of 6.75% and a maximum return that is expected to be 15%.
If a knock-out event does occur, the payout will be par plus the lesser of the index return and the maximum return. If the index return is negative, investors will receive less than par in this scenario.
UBS Investment Bank is the underwriter. JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are the dealers.
The notes are expected to price Aug. 17 and settle Aug. 22.
The Cusip number is 902674LF5.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.