By Jennifer Chiou
New York, May 24 - UBS AG, Jersey Branch priced another $100 million of securities in the reopening of its 0% exchange-traded access securities (E-Tracs) due April 5, 2038 linked to the UBS Bloomberg Constant Maturity Commodity Index Total Return, according to a 424B2 filing with the Securities and Exchange Commission.
This brings the total issue amount to $200 million. While UBS sold the original securities at par, the reopened securities may be sold from time to time at 101.
The index is comprised of 28 futures contracts with up to five different maturities for each individual commodity.
The payout at maturity will be par of $25.00 times the index performance minus a fee equal to 0.65% per year.
Holders may require UBS to redeem the securities, in whole or in part, on any trading day beginning on April 28, 2008. There is a minimum of 100,000 securities or $2.5 million principal amount.
UBS may call the securities on any trading day on or after April 4, 2013 through April 5, 2038. Holders will receive the redemption amount, which is calculated in the same manner as the payout at maturity.
UBS Investment Bank is the underwriter.
| Issuer: | UBS AG, Jersey Branch
|
| Issue: | Exchange-traded access securities (E-Tracs)
|
| Underlying index: | UBS Bloomberg Constant Maturity Commodity Index Total Return
|
| Amount: | $200 million (up from $100 million)
|
| Maturity: | April 5, 2038
|
| Coupon: | 0%
|
| Price: | Par of $25.00 for original $100 million; 101 for reopened notes
|
| Payout at maturity: | Par times the index performance minus a fee equal to 0.65% per year
|
| Put: | In whole or in part on any trading day beginning April 28, 2008; minimum of 100,000 securities
|
| Call: | On any trading day on or after April 4, 2013 through April 5, 2038
|
| Initial level: | 1,436.54
|
| Pricing date: | April 1, 2008 for $100 million; May 24 for $100 million
|
| Underwriter: | UBS Investment Bank
|
| Listing: | NYSE Arca: UCI
|
| Fees: | Up to 1%
|
| Cusip: | 902641778
|
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