By E. Janene Geiss
Philadelphia, May 29 - UBS AG priced a $15.3 million issue of zero-coupon performance tracking securities due May 31, 2012 linked to the CBOE S&P 500 BuyWrite Index, according to an FWP filing with the Securities and Exchange Commission.
For each $10 principal amount of securities, the payout at maturity will be $1 times the index performance minus a fee amount. The fee amount will accrue daily and be equal to 1.25% divided by 365 times $1, times the index performance.
Holders may exchange their securities for their cash value on any of June 2, 2008; May 29, 2009; May 28, 2010; and May 31, 2011.
UBS Investment Bank and UBS Financial Services, Inc. are the agents.
| Issuer: | UBS AG
|
| Issue: | Performance tracking securities
|
| Underlying index: | CBOE S&P 500 BuyWrite Index
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| Amount: | $15.3 million
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| Maturity: | May 31, 2012
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| Coupon: | 0%
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| Price: | Par of $10
|
| Payout at maturity: | $1 times the index performance minus a fee amount; fee amount will accrue daily and be equal to 1.25% divided by 365 times $1 times the index performance
|
| Initial index level: | 822.92
|
| Pricing date: | May 24
|
| Underwriters: | UBS Investment Bank and UBS Financial Services, Inc.
|
| Fees: | 1.25%
|
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