UBS plans to price 54-week knock-out put warrants linked to S&P 500

By Marisa Wong

Morgantown, W.Va., June 22 – UBS AG, London Branch plans to price knock-out put warrants expiring July 12, 2018 linked to the S&P 500 index, according to a 424B2 filing with the Securities and Exchange Commission.

The notional amount is $1,000 per warrant. The issue price will be $22.20 per warrant, equal to 2.22% of the notional amount.

On the expiration date, the warrants will be exercised automatically only if the index finishes below the initial level but at or above the knock-out level, 85% of the initial level.

If the warrants are exercised, investors will receive a cash settlement value equal to $1,000 multiplied by the index change, which is (a) the initial index level minus the final index level divided by (b) the initial index level. For example, if the index declines by 15%, the underlying return will be 15% and investors will receive $150 per warrant.

The minimum investment is 451 warrants.

UBS Investment Bank is the agent. JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC are placement agents.

The notes will price on June 23.

The Cusip number is 90280V632.

© 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.