Published on 3/13/2013 in the Prospect News Structured Products Daily.
New Issue: UBS prices $6.5 million capped index knock-out notes tied to S&P 500
By Susanna Moon
Chicago, March 13 - UBS AG, London Branch priced $6.5 million of 0% capped index knock-out notes due March 26, 2014 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.
A knock-out event occurs if the index falls by more than 20% during the life of the notes.
If a knock-out event does not occur, the payout at maturity is par plus the greater of the 0.3% contingent minimum return and any index gain, up to a maximum return of 15%.
If a knock-out event occurs, the payout at maturity is par plus the index return, capped at 15% and with exposure to any losses.
UBS Investment Bank in the underwriter, with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as the placement agents.
| Issuer: | UBS AG, London Branch
|
| Issue: | Capped index knock-out notes
|
| Underlying index: | S&P 500
|
| Amount: | $6,495,000
|
| Maturity: | March 26, 2014
|
| Coupon: | 0%
|
| Price: | Par
|
| Payout at maturity: | If index falls by more than 20% during life of notes, par plus index return; otherwise, par plus gain, floor of 0.3%; in either case, maximum return is 15%
|
| Initial index level: | 1,551.18
|
| Pricing date: | March 8
|
| Settlement date: | March 13
|
| Underwriter | UBS Investment Bank with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agents
|
| Fees: | 1%
|
| Cusip: | 902674MH0
|
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