New Issue: UBS prices $5.15 million contingent return optimization notes linked to S&P 500

By Angela McDaniels

Tacoma, Wash., July 2 - UBS AG, London Branch priced $5.15 million of 0% contingent return optimization securities with daily close monitoring due July 7, 2014 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

If the index does not close below the trigger level, 80% of the initial index level, during the life of the notes, the payout at maturity will be par of $10 plus the greater of 2% and the index return, subject to a maximum return of 16%.

If the index closes below the trigger level during the life of the notes, the payout at maturity will be par plus the lesser of the index return and 16%. If the index return is negative, investors will receive less than par.

UBS Financial Services Inc. and UBS Investment Bank are the agents.

Issuer:	UBS AG, London Branch
Issue:	Contingent return optimization securities with daily close monitoring
Underlying index:	S&P 500
Amount:	$5.15 million
Maturity:	July 7, 2014
Coupon:	0%
Price:	Par of $10
Payout at maturity:	If index does not close below trigger level during life of notes, par plus greater of 2% and index return, subject to maximum return of 16%; otherwise, par plus lesser of index return and 16%
Initial index level:	1,606.28
Trigger level:	1,285.02, 80% of initial level
Pricing date:	June 28
Settlement date:	July 3
Agents:	UBS Financial Services Inc. and UBS Investment Bank
Fees:	0.5%
Cusip:	90271L254

© 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.