Published on 5/30/2012 in the Prospect News Structured Products Daily.
New Issue: UBS prices $5.62 million airbag performance notes linked to SPDR S&P 500 ETF
By Angela McDaniels
Tacoma, Wash., May 30 - UBS AG, London Branch priced $5.62 million of 0% airbag performance notes due May 31, 2017 linked to the SPDR S&P 500 ETF trust, according to a 424B2 filing with the Securities and Exchange Commission.
If the trust's return is positive, the payout at maturity will be par plus 113% of the return.
If the trust's return is zero or negative and its final price is greater than or equal to the conversion price, the payout will be par. The conversion price is 50% of the initial price.
If the final price is less than the conversion price, the payout will be a number of trust shares equal to par divided by the conversion price.
UBS Financial Services Inc. and UBS Investment Bank are the underwriters.
Issuer: | UBS AG, London Branch
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Issue: | Airbag performance notes
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Underlying trust: | SPDR S&P 500 ETF trust
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Amount: | $5,615,000
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Maturity: | May 31, 2017
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Coupon: | 0%
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Price: | Par
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Payout at maturity: | If trust's return is positive, par plus 113% of trust's return; if trust's return is zero or negative and final price is greater than or equal to conversion price, par; if final price is less than conversion price, number of trust shares equal to share delivery amount
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Initial price: | $132.10
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Conversion price: | $66.05, 50% of initial share price
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Share delivery amount: | 15.1401, equal to $1,000 divided by conversion price
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Pricing date: | May 25
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Settlement date: | May 31
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Underwriter: | UBS Financial Services Inc. and UBS Investment Bank
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Fees: | 3.5%
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Cusip: | 90268U168
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