UBS extends dates for six-month notes linked to dollar vs. yen

By Toni Weeks

San Luis Obispo, Calif., Feb. 11 - UBS AG, Jersey Branch pushed out the dates for its upcoming offering of 0% notes linked to the performance of the dollar relative to the Japanese yen, according to an FWP filing with the Securities and Exchange Commission.

The notes will now mature Aug. 20, 2014, extended from Aug. 12, 2014.

In addition, the notes will price on Feb. 14 and settle on Feb. 20, instead of Feb. 7 and Feb. 12, respectively.

As previously noted, the currency return will be positive if the dollar appreciates relative to the yen.

If the currency return is positive, the payout at maturity will be the minimum redemption amount of $967.50 plus the currency return. If the currency return is negative, the payout will be the minimum redemption amount of $967.50.

Investors will receive less than par if the currency return is less than 3.25%.

The final spot rate will be the average of the closing spot rate of each of five trading days ending Aug. 15, 2014.

UBS Investment Bank is the underwriter, with JPMorgan Chase Bank, NA and J.P. Morgan Securities LLC as placement agents.

The Cusip number is 90261JLJ0.

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